Deals
Tycoon Richard Li's Insurance Group Agrees to Buy MetLife’s Hong Kong Units
- Transaction will require Hong Kong regulatory approval
- The company didn’t disclose terms of the planned purchase
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FWD Group Ltd., the insurance firm backed by billionaire Richard Li, has agreed to buy two Hong Kong units of MetLife Inc. to increase market share, the former said in an emailed statement Friday.
Six-year-old FWD, via its Hong Kong unit, will acquire MetLife Ltd. and Metropolitan Life Insurance Co. of Hong Kong Ltd. for an undisclosed amount, according to the statement, which added the transaction will require regulatory approval.