Nippon Life Insurance Co is nearing a deal to buy a minority stake in Carlyle Group LP-backed money manager TCW Group Inc, sources said.
An agreement could be announced as soon as Friday, the sources said, asking not to be identified because the information hasn’t yet been publicly disclosed. Nippon Life plans to purchase about 25% of TCW, according to the people. The value will be around 55 billion yen (US$490mil), a source said.
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