Taiwan Life Insurance to Join Newly Formed JV for Niaosong District Urban Renewal Investment
Original: 代子公司台灣人壽保險股份有限公司公告參與投資新設合資 公司(公司名稱未定)以投資高雄市鳥松區都更案
Summary
CTBC Financial's subsidiary Taiwan Life Insurance Co., Ltd. will participate in a newly established joint venture (company name not yet finalized) to invest in an urban renewal redevelopment project in Niaosong District, Kaohsiung City. This represents a strategic long-duration real asset deployment by the insurance subsidiary, a common use of life insurance premium reserves in Taiwan. Full body available on MOPS.
Full Translation
On behalf of its subsidiary Taiwan Life Insurance Co., Ltd., CTBC Financial Holding Co. (TWSE: 2891) hereby announces that Taiwan Life Insurance will participate in and co-invest in a newly established joint venture company — whose formal company name has not yet been determined — for the purpose of investing in an urban renewal (redevelopment) project situated in Niaosong District, Kaohsiung City, Taiwan. Urban renewal projects in Taiwan typically involve the consolidation and redevelopment of aging residential or mixed-use buildings under the Urban Renewal Act; participation via a special-purpose JV is a standard structure for institutional real-estate co-investment in such projects. [Body not available — subject line only. See MOPS for full announcement.]