PayPay to Acquire Majority Stake in T&D Financial Life Insurance for $837.6 Million

MT Newswires Live06-06

PayPay (PAYP) agreed to buy 70.2% of T&D Financial Life Insurance from T&D Holdings for 134.3 billion yen ($837.6 million).

The purchase covers about 1.12 million shares, representing the same share of voting rights, PayPay said.

In a parallel transaction, One Investment Management, through its affiliate OneIM Indigo, plans to acquire a 14.9% stake from T&D Holdings for cash.

PayPay said it plans to combine its digital platform with T&D Financial Life's client base to expand its financial services offerings.

T&D Financial Life will become a subsidiary of PayPay once the deal closes, which is scheduled for Oct. 1, 2027, subject to regulatory approvals and other conditions.

Price: 15.10, Change: -0.65, Percent Change: -4.10

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