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Government OKs Suncorp Promina deal

Government OKs Suncorp Promina deal

(16 January 2007 – Australia) The federal government has given the green light to Suncorp Metway’s proposed A$7.9 billion takeover of insurance company Promina. The minister for Revenue and assistant treasurer Peter Dutton approved the merger.

This follows the Australian Competition and Consumer Commission giving the go-ahead for the merger last month.

Promina shareholders are set to vote on the merger on 5 March.

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