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Dai-ichi Life, Marubeni integrate domestic real estate businesses

February 28, 2025 at 12:01 PM UTCBy FilingReader AI

Dai-ichi Life Holdings and Marubeni Corporation announced today a business integration agreement to consolidate their domestic real estate businesses, effective July 1, 2025. Marubeni will conduct an absorption-type company split (simplified) to transfer its domestic real estate development, ownership, leasing, asset management, and property management operations to its subsidiary, Marubeni Urban Development Corporation, which will then become the joint venture. Dai-ichi Life will contribute its real estate asset management arm, DLR, along with two other real estate related subsidiaries, to the JV through a stock delivery. The resulting entity will be equally owned (50/50) by both Dai-ichi Life and Marubeni. The move aims to create a leading domestic real estate platform by combining the strengths and resources of both companies. The total revenues for this new JV are approximately $65 million USD. The agreement is subject to regulatory approvals and customary closing conditions.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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