February 1, 2018 / 5:38 PM / 10 months ago

BRIEF-Great-West Lifeco Announces Estimated Impact Of U.S. Tax Reform

Feb 1 (Reuters) - Great-West Lifeco Inc:

* GREAT-WEST LIFECO ANNOUNCES ESTIMATED IMPACT OF U.S. TAX REFORM AND THE AGREEMENT TO SELL A U.S. EQUITY INVESTMENT AND INCREASE ITS INTEREST IN PANAGORA

* SAYS EXPECTS TO TAKE A CHARGE OF $216 MILLION OR $0.22 PER SHARE WHEN IT REPORTS ITS Q4 RESULTS ON FEBRUARY 8, 2018 DUE TO U.S. TAX LAW​

* SAYS ‍ENTERED AGREEMENT TO SELL A U.S. EQUITY INVESTMENT AND INCREASE ITS INTEREST IN PANAGORA ASSET MANAGEMENT INC​

* SAYS ESTIMATED NET IMPACT OF NISSAY SHARES SALE IS A CHARGE OF $122 MILLION OR $0.12/SHARE INCLUDED IN CO’S NET EARNINGS FOR Q4

* SAYS IN Q4, CO THROUGH UNIT, AGREED TO SELL EQUITY INVESTMENT IN NISSAY ASSET MANAGEMENT CORPORATION TO NIPPON​

* SAYS ‍CONCURRENTLY WITH SALE OF EQUITY INVESTMENT IN NISSAY, CO ACQUIRED NIPPON’S MINORITY STAKE IN PANAGORA​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below