Termination of Scheme Implementation Agreement with Tower
Tuesday, 7 November 2017, 11:30 am Press Release: Suncorp
7 November 2017
Termination of Scheme Implementation
Agreement with Tower
Vero Insurance New Zealand
Limited (Vero) (a wholly owned subsidiary of Suncorp Group
Limited) today announced it had received notice of
termination from Tower Limited (Tower) of the Scheme
Implementation Agreement.
As a result, Suncorp will
no longer be proceeding with its appeal of the New Zealand
Commerce Commission’s decision to decline its application
to acquire Tower.
Suncorp is now focused on
maximising the value of its Tower
shareholding.
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