Berkshire Hathaway to take 2.5% stake in Tokio Marine in £1.35bn deal
Berkshire Hathaway is taking a 2.5% shareholding in Japanese insurance giant Tokio Marine Holdings, in a partnership deal designed for mergers and acquisitions and reinsurance.
According to the pair it “will serve as a powerful catalyst for the medium- to long-term growth of both companies”.
The deal is structured through National Indemnity Company, wholly owned by Berkshire, buying treasury stock held by Tokio Marine rather than through the open market. Tokio Marine confirmed from April to September it will use the up to 287.4 bn yen (£1.35bn) to repurchase its own shares to prevent dilution for existing shareholders.
This strategic partnership represents a major step
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