Janus Henderson Announces Secondary Offering of Its Common Stock Held by Dai-ichi Life Holdings, Inc.; Plans up to US$230 Mil...
04 February 2021 - 10:48PM
Business Wire
JHG Enters New Strategic Co-operation
Agreement with Dai-ichi Life
Janus Henderson Group plc (NYSE/ASX: JHG; ‘Janus Henderson’)
announces today the commencement of a registered secondary offering
of common stock through which Dai-ichi Life Holdings, Inc.
(‘Dai-ichi’) intends to exit its equity investment in Janus
Henderson through an underwritten public secondary offering. Janus
Henderson intends to repurchase up to US$230 million of the stock
in the offering.
Dai-ichi has made a strategic decision to focus capital on its
global insurance business. As such, Dai-ichi has determined to
monetise its equity stake in Janus Henderson and has relinquished
its board seat.
As part of this decision, Janus Henderson and Dai-ichi have
entered a new strategic co-operation agreement. The new agreement
announced today includes many provisions similar to those of the
prior agreement, absent the capital commitment, and reflects the
evolution of the companies’ strategic relationship. Of note,
Dai-ichi and Janus Henderson will expand the companies’ expertise
and human resources program to include a senior executive from
Dai-ichi to help lead Janus Henderson’s efforts in Japan. The
companies will also continue to collaborate on new product
development and distribution.
Seiji Inagaki, President of Dai-ichi Life, said:
“Our relationship with Janus Henderson has benefited both our
organisations over the last eight years, and we are pleased that
our partnership will continue, even as we strategically reallocate
capital investments. Janus Henderson remains a powerful franchise
in the global Asset Management market and we hold their teams in
high regard. Janus Henderson has been a great partner for the past
eight years. We are confident in Janus Henderson’s quality and
leadership and look forward to continuing our strategic
relationship with the firm going forward.”
Dick Weil, CEO of Janus Henderson, added:
“We look forward to continuing the strong relationship with
Dai-ichi through the new co-operation agreement, building on eight
years of trust. Although we are disappointed to lose Dai-ichi as a
shareholder, today’s news does not change the path that Janus
Henderson is on to deliver Simple Excellence across our business.
We remain committed to delivering strong risk-adjusted returns for
all of our clients and long-term value and profit growth for all of
our shareholders.”
Centerview Partners is serving as financial advisor and Skadden,
Arps, Slate, Meagher & Flom LLP is serving as U.S. legal
advisor to Janus Henderson in connection with the transaction.
Janus Henderson has filed a registration statement (including a
prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the
prospectus in that registration statement and other documents Janus
Henderson has filed with the SEC, including the preliminary
prospectus supplement dated 4 February 2021, for more complete
information about Janus Henderson and this offering. You may get
these documents for free by visiting EDGAR on the SEC website at
www.sec.gov. Alternatively, any underwriter or any dealer
participating in the offering will arrange to send you the
prospectus and the prospectus supplement, when available, if you
request them by contacting Goldman Sachs & Co. LLC, Prospectus
Department, 200 West Street, New York, New York 10282, telephone:
1-866-471-2526, facsimile: 212-902-9316 or by emailing
Prospectus-ny@ny.email.gs.com.
This announcement shall not constitute an offer to sell or the
solicitation of any offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Janus Henderson
Janus Henderson Group is a leading global active asset manager
dedicated to helping investors achieve long-term financial goals
through a broad range of investment solutions, including equities,
fixed income, quantitative equities, multi-asset and alternative
asset class strategies.
At 31 December 2020, Janus Henderson had approximately US$402
billion in assets under management, more than 2,000 employees, and
offices in 26 cities worldwide. Headquartered in London, the
company is listed on the New York Stock Exchange (NYSE) and the
Australian Securities Exchange (ASX).
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Investor enquiries Melanie Horton Co-Head Investor
Relations (Non-US) +44 (0) 20 7818 2905
melanie.horton@janushenderson.com
Jim Kurtz Co-Head Investor Relations (US) +1 (303) 336 4529
jim.kurtz@janushenderson.com
Media enquiries Stephen Sobey Head of Media Relations +44
(0) 20 7818 2523 stephen.sobey@janushenderson.com
Sarah de Lagarde Global Head of Communications +44 (0) 20 7818
2626 sarah.delagarde@janushenderson.com
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