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ClearView Wealth Receives APRA Approval for Zurich Takeover Scheme

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ClearView Wealth (ASX:CVW) said it has received regulatory approval from the Australian Prudential Regulation Authority (APRA) for Zurich Financial Services Australia's proposed acquisition of all its shares, satisfying a key condition for the scheme of arrangement, according to an Australian bourse filing on Wednesday after market hours.

The transaction remains subject to several outstanding conditions, including shareholder approval at the scheme meeting on July 27 and final court approval, per the filing.

The company's board has reaffirmed its unanimous recommendation that shareholders vote in favor of the scheme, provided no superior proposal emerges and the independent expert continues to conclude that the transaction is in shareholders' best interests, the filing added.

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