Canadian Press NewsAlert:Great-West Lifeco to buy Irish Life for $1.75 billion

The Canadian Press

WINNIPEG - Great-West Lifeco Inc. (TSX:GWO) will acquire Irish Life Group for $1.75 billion through an agreement with the Government of Ireland. Irish Life has more than one million customers and the equivalent of $50 billion of assets under management. Winnipeg-based Great-West expects the new acquisition will increase its profit by about 10 per cent in 2014, the first full year of ownership.

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