ClearView rebukes sale rumours

ClearView Wealth has cleared up speculation around whether its was exploring sale possibilities with TAL and a Japanese life house. 

ClearView rebukes sale rumours

elaina

Last Updated: 03 June 2020 Published: 18 December 2015

In a statement, the wealth management firm said while it "often engages in market and industry discussion with strategic parties as part of its overall business planning, ClearView has not received a proposal from any potential parties".

"The board of ClearView will continue to keep ClearView shareholders informed in compliance with its continuous disclosure obligations."

The statement is in response to an article in The Australian that states ClearView may soon be up for sale.

"Should wealth management firm ClearView be subject to a trade sale, as some are speculating, Australian life insurer TAL has been named as a group possibly behind any acquisition that may happen, while a Japanese life house could also be an interested buyer," the article said.

"ClearView's majority shareholder is private equity firm Crescent Capital."

In late October 2015, ClearView underwent a business restructure, splitting up its operations and development team.