Scoop has an Ethical Paywall
Vero and Tower enter into Scheme Implementation Agreement
27 June 2017
Vero and Tower enter into Scheme
Implementation Agreement
Suncorp Group
Limited (Suncorp) and Tower Limited (Tower) today announced
that Vero Insurance New Zealand Limited (a wholly-owned
subsidiary of Suncorp) (Vero) and Tower have entered into a
Scheme Implementation Agreement whereby it is proposed that
Vero will acquire all of Tower’s ordinary shares it does
not currently own by way of a Scheme of Arrangement.
Vero intends to work closely with the Tower Board to bring the transaction to fruition, providing the best result for both company’s shareholders and customers.
The Scheme of Arrangement remains subject to a number of conditions, including approval by Tower shareholders and court approval. The transaction is also subject to necessary regulatory approvals, including approval from the New Zealand Commerce Commission and the Reserve Bank of New Zealand.
ends
Parrot Analytics: A Very Parrot Analytics Christmas, 2024 Edition
Financial Markets Authority: Individual Pleads Guilty To Insider Trading Charges
Great Journeys New Zealand: Travel Down Memory Lane With The Return Of The Southerner
WorkSafe NZ: Overhead Power Lines Spark Safety Call
Transpower: Transpower Seeks Feedback On Electricity Investment Short-list For Upper South Island
Commerce Commission: “Cheating The System” – Sentencing In Country’s First Criminal Cartel Case
