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BRIEF-Great-West Lifeco Announces Estimated Impact Of U.S. Tax Reform

Published 2018-02-01, 12:36 p/m
Updated 2018-02-01, 12:40 p/m
© Reuters.  BRIEF-Great-West Lifeco Announces Estimated Impact Of U.S. Tax Reform

Feb 1 (Reuters) - Great-West Lifeco Inc GWO.TO :

* GREAT-WEST LIFECO ANNOUNCES ESTIMATED IMPACT OF U.S. TAX REFORM AND THE AGREEMENT TO SELL A U.S. EQUITY INVESTMENT AND INCREASE ITS INTEREST IN PANAGORA

* SAYS EXPECTS TO TAKE A CHARGE OF $216 MILLION OR $0.22 PER SHARE WHEN IT REPORTS ITS Q4 RESULTS ON FEBRUARY 8, 2018 DUE TO U.S. TAX LAW

* SAYS ENTERED AGREEMENT TO SELL A U.S. EQUITY INVESTMENT AND INCREASE ITS INTEREST IN PANAGORA ASSET MANAGEMENT INC

* SAYS ESTIMATED NET IMPACT OF NISSAY SHARES SALE IS A CHARGE OF $122 MILLION OR $0.12/SHARE INCLUDED IN CO'S NET EARNINGS FOR Q4

* SAYS IN Q4, CO THROUGH UNIT, AGREED TO SELL EQUITY INVESTMENT IN NISSAY ASSET MANAGEMENT CORPORATION TO NIPPON

* SAYS CONCURRENTLY WITH SALE OF EQUITY INVESTMENT IN NISSAY, CO ACQUIRED NIPPON'S MINORITY STAKE IN PANAGORA

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