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Article: Nationale-Nederlanden to acquire Southland Life Insurance Company.
- Article from:
- PR Newswire
- Article date:
- January 30, 1989
CopyrightCOPYRIGHT 1989 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NATIONALE-NEDERLANDEN TO ACQUIRE SOUTHLAND LIFE INSURANCE COMPANY
WASHINGTON/THE HAGUE, The Netherlands, Jan. 30 /PRNewswire/ -- Nationale-Nederlanden N.V. announced today that its U.S. subsidiary, GeorgiaUS Corp., has entered into a definitive agreement to acquire Southland Life Insurance Co. from The Franklin Life Insurance Co., a unit of American Brands Inc., for approximately $440 million in cash.
The transaction is subject to approval by the regulatory authorities.
"We are very pleased with this acquisition and the many opportunities it brings to both companies," said Lynn H. Johnston, president and CEO of GeorgiaUS. "We believe ...