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BRIEF-Sun Life To Buy Majority Stake In Infrared Capital Partners

Published 2019-12-18, 02:14 a/m
BRIEF-Sun Life To Buy Majority Stake In Infrared Capital Partners
SLF
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Dec 18 (Reuters) - Sun Life Financial Inc SLF.TO :

* SUN LIFE TO ACQUIRE MAJORITY STAKE IN INFRARED CAPITAL PARTNERS

* SUN LIFE WILL ACQUIRE AN 80% INTEREST IN INFRARED FOR CONSIDERATION THAT INCLUDES A CLOSING PAYMENT OF £300 MILLION

* INFRARED WILL FORM PART OF SLC MANAGEMENT, CO'S ALTERNATIVES ASSET MANAGEMENT BUSINESS

* COMMITTED TO CO-INVEST US$400 MILLION, INCLUDING GENERAL ACCOUNT INVESTMENTS, TO SUPPORT LAUNCH OF NEW INFRARED INVESTMENT SOLUTIONS

* INFRARED'S OWNERS WILL HAVE A PUT OPTION TO SELL THEIR REMAINING INTEREST TO SUN LIFE APPROXIMATELY FOUR YEARS FROM CLOSING

* SUN LIFE WILL HAVE OPTION TO CALL ANY REMAINING INTEREST APPROXIMATELY FIVE YEARS FROM CLOSING

* TRANSACTION IS EXPECTED TO CLOSE DURING FIRST HALF OF 2020

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