DB Insurance Co., Ltd. cancelled the acquisition of 80% stake in CIC Limited, CIC Limited and CIC (New Guinea) Limited from Tan Holdings Corporation.
May 12, 2021
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DB Insurance Co., Ltd. (KOSE:A005830) entered into an agreement to acquire 80% stake in CIC (Guam) Limited, CIC (Saipan) Limited and CIC (New Guinea) Limited from Tan Holdings Corporation on June 26, 2019. DB is expected to secure the management rights in CIC (Guam), CIC (Saipan) and CIC (New Guinea). The transaction is subject to regulatory approval and is expected to close in the second half of 2019. As of December 17, 2019, the transaction is expected to close in early 2020. As per filing on June 16, 2020 the transaction is expected to close in fourth quarter of 2020.
DB Insurance Co., Ltd. (KOSE:A005830) cancelled the acquisition of 80% stake in CIC (Guam) Limited, CIC (Saipan) Limited and CIC (New Guinea) Limited from Tan Holdings Corporation on May 12, 2021.
DB Insurance Co Ltd, formerly Dongbu Insurance Co Ltd is a Korea-based company engaged in the provision of non-life insurance services. The Company's non-life insurance products include fire insurance, marine insurance, automobile insurance, overseas accident insurance, warranty insurance, foreign goods insurance, long-term insurance, personal pension insurance, special insurance and others. The Company also provides loan services.