May 17, 2018 / 7:11 AM / 8 days ago

BRIEF-Union Bank Of India Announces Investment By Dai-Ichi Life Holdings In Union Asset Management Co

May 17 (Reuters) - Union Bank Of India Ltd:

* ANNOUNCES INVESTMENT BY DAI-ICHI LIFE HOLDINGS IN UNION ASSET MANAGEMENT CO

* UNDER PARTNERSHIP, DAI-ICHI LIFE HOLDS 39.62 PERCENT OF UNION AMC VIA INVESTMENT IN COMPULSORILY CONVERTIBLE PREFERENCE SHARES

* SAYS WITH THIS INVESTMENT, DAI-ICHI LIFE WOULD APPOINT ONE NOMINEE DIRECTOR ON BOARD OF UNION AMC Source text - [Union Bank of India announces investment by Dai-ichi Life Holdings, Inc. in Union Asset Management Company Pvt. Ltd. Mumbai, May 17, 2018: Union Bank of India is pleased to announce the investment by Dai-ichi Life Holdings, Inc. (“Dai-ichi Life”) in Union Asset Management Company Pvt. Ltd (“Union AMC”). As part of this new partnership, Dai-ichi Life Holdings Inc holds 39.62% of the share capital of Union AMC through investment in Compulsorily Convertible Preference Shares.] Further company coverage:

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