September 27, 2017 / 5:28 AM / a year ago

Nippon Life in talks to buy minority stake in TCW -sources

TOKYO, Sept 27 (Reuters) - Japan's biggest private-sector life insurer, Nippon Life Insurance Co, is in talks to buy a minority stake in U.S. investment company TCW Group, sources with direct knowledge of the deal said on Wednesday.

The Nikkei business daily reported Nippon Life was in talks to take a 20 to 30 percent stake in TCW from Carlyle Group , which owns about 60 percent, adding it aimed to close the deal by year-end.

The sources said the talks were in the early stages and specifics of the deal had yet to be determined, including how big a stake Nippon Life would buy. They declined to be identified because the talks were not public.

A Nippon Life spokesman declined to comment. (Reporting by Taiga Uranaka; Editing by Chang-Ran Kim)

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