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BRIEF-Cover-More says co agrees to takeover offer from Zurich Insurance
December 11, 2016 / 10:12 PM / 9 months ago

BRIEF-Cover-More says co agrees to takeover offer from Zurich Insurance

Dec 12 (Reuters) - Cover-More Group Ltd :

* Says Zurich Insurance Co Ltd will acquire all of ordinary shares in Cover-More by way of a scheme of arrangement

* Says Cover-More shareholders will be entitled to receive A$1.95 cash per share

* Says offer at scheme consideration implied enterprise value of A$854 million, on a fully diluted basis

* Says Cover-More’s board unanimously recommends scheme

* Says Cover-More is permitted to pay an interim and/or special dividend on or prior to implementation of scheme

* Says expects to deliver EBITDA in range of $54 million to $57 million for FY17 Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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