IFLR1000

Nippon Life Insurance A$2.4 billion acquisition of 80% of MLC

3/10/2016
Private acquisition
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A$ 2.4 billion

Completed

3/10/2016

Overview:

  • Nippon Life Insurance has acquired 80% of MLC for A$2.4 billion.
  • MLC is a subsidiary of the National Bank of Australia, with a total value of A$2.4 billion.
  • NAB will continue to hold the remaining 20% of the company.
  • This deal is Nippon Life's first overseas majority acquisition.
  • Nippon Life is Japan's largest insurer with 126 years of history. The company also has foreign operations in India, Indonesia, China, Thailand and the US.
  • MLC is an Australian life insurance company.

Katrin Kostadinova - Data analyst 

Jurisdictions:

Australia
Japan

Deal type:

Private acquisition

Practice area:

M&A

Governing law:

Australia

Industry sector:

Insurance

Firms:
Ashurst

Party: Nippon Life Insurance (Acquirer)

Lawyers: Con Tzerefos, Lisa Simmons, Natsuko Ogawa, Rehana Box

Herbert Smith Freehills

Party: National Australia Bank - NAB (Seller)

Lawyers: Baden Furphy, Michael Vrisakis, Raji Azzam

Nishimura & Asahi

Party: Nippon Life Insurance (Acquirer)

Lawyers: Kazuhiro Takei, Masaki Noda

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