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AFRICAN AMERICAN (T)

Japan's Rakuten to acquire Asahi Fire for 45 billion yen

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TOKYO (Reuters) – Japanese e-commerce company Rakuten Inc said on Monday it would acquire Asahi Fire & Marine Insurance Co Ltd for 45 billion yen ($413.6 million), its latest move to diversify beyond its online shopping site.

Rakuten said it would launch a tender offer and pay 2,664 yen per share of Asahi Fire, a property insurance firm owned by Nomura Holdings and its subsidiary. Nomura confirmed the tender offer in a separate statement.

Reporting by Minami Funakoshi; Editing by Clarence Fernandez



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