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Japan – Paul, Weiss Advises Janus Capital On Strategic Alliance With Dai-ichi Life.

15 August, 2012

 

 

Paul, Weiss client Janus Capital Group Inc. ("JCG") (NYSE: JNS) announced an agreement to enter a strategic alliance with The Dai-ichi Life Insurance Company, Limited ("Dai-ichi Life") (TSE: 8750), the third-largest life insurer in Japan.
 
Dai-ichi Life plans to acquire at least 15% (and no more than 20%) of JCG’s outstanding common shares through open market purchases and potentially through the exercise of conditional options issued to Dai-ichi Life by JCG.  As part of this alliance, Dai-ichi Life will support JCG’s distribution initiatives in Japan and plans to invest US$ 2 billion of its general account assets with JCG, including seed capital for JCG investment strategies. 
 
The Paul, Weiss team advising Janus on the transaction included M&A partners Toby Myerson, Steven Williams and Kaye Yoshino.
 
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