• Kyodo

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Nippon Life Insurance Co. said Monday it has inked a deal with Germany’s Deutsche Bank to acquire a 5 percent stake in the company’s asset management unit.

The Japanese life insurer, hoping to boost its asset management business, is expected to invest around ¥40 billion ($375 million) in DWS Group GmbH & Co., which is likely to undergo an initial public offering on March 23.

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