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BRIEF-Sun Life Financial to acquire U.S. employee benefits business of Assurant

Published 2015-09-09, 05:13 p/m
© Reuters.  BRIEF-Sun Life Financial to acquire U.S. employee benefits business of Assurant
SLF
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Sept 9 (Reuters) - Sun Life Financial Inc SLF.TO :
* To acquire U.S. employee benefits business of assurant
* 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
* Says acquisition is expected to be immediately accretive, adding $0.08 per
share to earnings
* 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:nPn80GJDH

* Further company coverage SLF.TO

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