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BRIEF- Sun Life Financial to buy Assurant's U.S. employee benefits business

Published 2015-09-09, 05:55 p/m
© Reuters.  BRIEF- Sun Life Financial to buy Assurant's U.S. employee benefits business
AIZ
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SLF
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Sept 9 (Reuters) - Sun Life Financial Inc SLF.TO :

* Excluding deal,integration costs, deal expected to be immediately accretive, adding $0.08/share to 2016 earnings
* Sun Life Financial to acquire U.S. employee benefits business of Assurant (NYSE:AIZ)
* Says to acquire assurant's employee benefits business for a net investment of US$975 million
* Says acquisition will be financed using a combination of cash and subordinated debt issued by Sun Life Financial Inc
* Acquisition will be effected through reinsurance agreements, asset transfers and the direct purchase of certain legal entities
* Excluding deal, integration costs, deal expected to be immediately accretive

* Source text for Eikon ID:nCNWj4Nlla
* Further company coverage SLF.TO

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