) has agreed to sell its subsidiaries that provide employer voluntary benefits to StanCorp Financial Group in a $2 billion cash deal, the company said in a regulatory filing on Tuesday.
The sale is the first step in insurer's strategic decision to enable its health & benefits businesses - employer voluntary benefits, individual and group health - to realize their full growth potential by merging them with its ventures that have additional capabilities, the company said. The businesses being sold had revenues of $535 million and adjusted net income of $45 million for the first half of 2024.J.P. Morgan and Ardea Partners acted as financial advisors to Allstate while Citi acted as exclusive financial advisor to The Standard.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
Россия Последние новости, Россия Последние новости
Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей
Источник: Investingcom - 🏆 450. / 53 Прочитайте больше »