Japanese trading conglomerate Marubeni Corp will take a 22% stake in ACR Capital Holdings in a move that will provide the Singapore reinsurer with new capital, the Singapore firm said on Friday.
ACR did not disclose the size of the Marubeni investment, but Japanese newspaper Nikkei said earlier on Friday Marubeni will invest around $250 million ($313 million).
ACR’s other major shareholders include British private equity firm 3i, Malaysia’s Khazanah Nasional and Singapore state investor Temasek Holdings.
Barclays advised ACR on the deal.
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