January 29, 2018 / 6:17 AM / 4 months ago

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

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.

FILE PHOTO: Pedestrians walk past a Rakuten Cafe at a shopping district in Tokyo August 4, 2014. REUTERS/Yuya Shino/File Photo

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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