Swiss Re confirms talks with SoftBank over possible stake saleApril 6 2018 by InsuranceAsia News Staff
Swiss Re has confirmed reports that it is in talks with SoftBank for the latter to acquire a minority stake in the reinsurance giant.
Swiss Re has stressed, however, that the talks are still at an early stage.
It has also confirmed that it is not considering the issuance of new shares for the possible investment by the Japanese firm.
It said it is eyeing a strategic cooperation with SoftBank and that the proposed minority investment is not expected to exceed 10%.
For SoftBank, the potential deal with Swiss Re will be in line with its ambition to widen its investments, which already include its US$93 billion Vision Fund for technology projects.
Analysts have earlier said the Japanese financial services group is likely attracted by Swiss Re’s research capabilities, undervalued stock and cash generation capabilities.
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