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S'pore fund seeks Tokyo court ruling on Mitsui Life takeover price

Tokyo

TIHT Investment Holdings Pte Ltd, a Singaporean private equity firm partly owned by Temasek Holdings Pte Ltd, has asked the Tokyo District Court to review the price Nippon Life Insurance Co paid to buy its stake in another Japanese insurer, claiming that it was too low.

TIHT was forced to sell its shares in Mitsui Life Insurance Co when Nippon Life made the takeover last December.

The process for setting the price ignored embedded value, or EV, a measure used to gauge the worth of life insurers...

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