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Termination of Scheme Implementation Agreement with Tower
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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