• ACCC has determined the proposed acquisition of ClearView by Zurich may proceed
• Implementation of the scheme remains subject to other conditions precedent
• ClearView directors unanimously recommend shareholders vote in favor of the scheme

ClearView Wealth Limited (ASX: CVW) has announced that the Australian Competition and Consumer Commission (ACCC) has determined under the Competition and Consumer Act 2010 that the proposed acquisition of all ClearView shares by Zurich Financial Services Australia Limited may be put into effect. This determination was made during the 'phase 1' review of the transaction under the new mandatory merger control regime. Following this determination, the ACCC clearance condition precedent in the scheme implementation deed will be satisfied, provided no review application is made within the 14-day period after the ACCC's determination was published. Implementation of the scheme remains subject to the satisfaction or waiver of certain other conditions precedent, including APRA approval, ClearView shareholder approval, and court approval. ClearView and Zurich are continuing to work towards implementing the scheme in accordance with the indicative timetable. The ClearView directors unanimously recommend that ClearView shareholders vote in favor of the scheme, in the absence of a superior proposal and subject to the independent expert concluding the scheme is in the best interests of shareholders. ClearView's largest shareholder group, Crescent Capital Partners, which holds 53% of ClearView shares, has informed the board that it intends to vote all of those shares in favor of the scheme, provided the board's recommendation and the independent expert's conclusion remain unchanged and there is no superior proposal.