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Business & Finance

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

Published January 29, 2018 Updated January 29, 2018 06:16am
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By Fawad MaqsoodReuters
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TOKYO: 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.

Copyright Reuters, 2018

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