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Berkshire Hathaway Intends to Spend USD1.8B to Acquire 2.5% Stake in Tokio Marine
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Berkshire Hathaway (BRK.A.US), Warren Buffett's investment flagship, plans to spend USD1.8 billion to acquire a 2.5% stake in Japanese insurance giant Tokio Marine (8766.JP) as part of a strategic partnership initiative. Tokio Marine stated that it will sell shares to Berkshire's core reinsurance division, National Indemnity. The collaboration between the two parties will cover reinsurance business and potential M&As. Tokio Marine also pledged to repurchase shares to prevent dilution of existing equity. AAStocks Financial News |
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