Home / Newsroom / Termination of Scheme Implementation Agreement with Tower

Termination of Scheme Implementation Agreement with Tower

7 November 2017

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. 

Share this: 

Media enquiries: Kimberley Cameron +64 27 208 1268 

The information in this article has been compiled from various sources and is intended to be factual information only. It is not personal advice and any description of an insurance product or service is not a complete description of all the terms and conditions applicable to the particular insurance product or service. You should consult a qualified adviser for advice on whether the information in this article is suitable for your personal situation and needs. While we take reasonable steps to ensure that the information contained in this article is accurate and up-to-date, it is subject to change without notice. Suncorp New Zealand and its related companies does/do not accept any responsibility or liability in connection with your use of or reliance on this article.