find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Japan invests in Australian insurance company

Japan invests in Australian insurance company

Natsuko Ogawa, Ashurst

A Japanese life insurance company is set to acquire 80 per cent of outstanding shares from MLC Limited for $2.4 billion.

Firms: Ashurst (Nippon Life Insurance Company); Herbert Smith Freehills (NAB); Nishimura & Asahi (MLC Limited)

Deal: Nippon Life will acquire 80 per cent of MLC Limited’s outstanding shares.

Value: $2.4 billion

Area: M&A

Key players: Natsuko Ogawa (pictured) led the Ashurst team, assisted by Jane Harvey, Richard Bunting, Lisa Simmons, Con Tzerefos, Rehana Box, Peter Chalk, Vivian Chang, Barbara Phair and Tim Brookes.

Deal significance: Japanese insurance company Nippon Life has entered into a definitive agreement to acquire 80 per cent of the outstanding shares of MLC Limited (MLC).

MLC is a subsidiary of NAB, and will enter into a 20-year distribution agreement with NAB.

NAB will continue to hold the remaining 20 per cent of the outstanding shares of MLC and seek to expand MLC’s business together with Nippon Life.

MLC will become a subsidiary of Nippon Life upon closing, which is anticipated to be between September and December 2016.

Ashurst lead partner Natsuko Ogawa said: “Nippon Life's acquisition of MLC is an exciting milestone for Japanese investment in the Australian financial services sector, and more particularly in life insurance.”

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017


Japan invests in Australian insurance company
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...