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Lehman to buy 19% of insurer

US-based investment bank Lehman Brothers will acquire 19.2 per cent of Finansa Life Assurance for Bt500 million.

Published on September 8, 2007



"Preliminarily, Lehman Brothers will invest Bt500 million. The deal is under consideration by the Insurance Department," Reuters quoted an informed source as saying.

The source added that Lehman Brothers might buy an additional stake in Finansa Life Assurance in the future.

Lehman Brothers' extensive network will help the life-insurance firm expand its customer base, the source said.

Finansa Life Assurance is under pressure, because its capital fund shows a deficit of more than Bt400 million.

Earlier, in addition to Lehman Brothers, three or four other investors had taken an interest in purchasing a sizeable stake in Finansa.

The Nation


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