Feb 24 (Reuters) - Australia's ClearView Wealth CVW.AX said on Tuesday that the local unit of Zurich Insurance Group ZURN.S has agreed to buy the life insurer for A$408.3 million ($288.30 million).
Under the deal, ClearView shareholders will receive cash consideration of 65 Australian cents per share, a 21.5% premium to its last closing price.
($1 = 1.4162 Australian dollars)
(Reporting by Nichiket Sunil in Bengaluru; editing by Rashmi Aich)
((Nichiket.Sunil@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.