Japan's Rakuten to acquire Asahi Fire for 45 billion yen

Reuters News
Posted: Jan 29, 2018 1:16 AM

TOKYO (Reuters) - Japanese e-commerce company Rakuten Inc said on Monday it would acquire Asahi Fire & Marine Insurance Co Ltd for 45 billion yen ($413.6 million), its latest move to diversify beyond its online shopping site.

Rakuten said it would launch a tender offer and pay 2,664 yen per share of Asahi Fire, a property insurance firm owned by Nomura Holdings and its subsidiary. Nomura confirmed the tender offer in a separate statement.

(Reporting by Minami Funakoshi; Editing by Clarence Fernandez)