<article><a style="color: #333399;" href="http://www.dealstreetasia.com/?s=Sony+Life+Insurance" target="_blank">Sony Life Insurance Co Ltd</a> has become a strategic shareholder in <a style="color: #333399;" href="http://www.dealstreetasia.com/?s=ClearView+Wealth" target="_blank">ClearView Wealth Ltd</a> after acquiring a 14.9 per cent stake owned by Australia-based private equity firm <a style="color: #333399;" href="http://www.dealstreetasia.com/?s=Crescen+Capital+Partners" target="_blank">Crescent Capital Partners</a>.</article>

<a style="color: #333399;" href="http://www.dealstreetasia.com/?s=Sony+Life+Insurance" target="_blank">Sony Life Insurance Co Ltd</a> has become a strategic shareholder in <a style="color: #333399;" href="http://www.dealstreetasia.com/?s=ClearView+Wealth" target="_blank">ClearView Wealth Ltd</a> after acquiring a 14.9 per cent stake owned by Australia-based private equity firm <a style="color: #333399;" href="http://www.dealstreetasia.com/?s=Crescen+Capital+Partners" target="_blank">Crescent Capital Partners</a>.
A wholly owned subsidiary of Sony Financial Holdings Inc, a financial services holding company listed on the Tokyo Stock Exchange, Sony Life provides insurance products covering term life, health, nursing care, personal pension and endowments.
ClearView, listed on the Australian Stock Exchange (ASX), offers insurance, financial advice, including investment and super solutions. It started out as NRMA Life in 1976.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/korea-poba-allots-120m-in-us-mezzanine-funds-55879/" target="_blank">Korea: POBA gets Crescent Capital, Falcon, Goldpoint to manage $120m in US mezzanine funds</a>
The size of the deal was not disclosed, although Sony Life noted the acquired shares were priced at $l.48 per share.
The transaction will be effected through an off-market transaction expected to settle in the following days.
Sony Life and ClearView said they would collaborate to expand the latter&#8217;s distribution network, and also increase recruitment and productivity of high quality and skillful aligned advisers.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/australias-nab-agrees-to-sell-insurance-arm-to-japans-nippon-life-for-1-7b-17098/" target="_blank">Australia’s NAB agrees to sell insurance arm to Japan’s Nippon Life for $1.7b</a>
Sony Life has granted Crescent a call option over its shares. This agreement has been lodged with the ASX.
&#8220;We are delighted to welcome Sony Life as a shareholder in ClearView. We believe they will be able to bring significant experience to ClearView as we look to continue to grow our business,&#8221; said ClearView managing director Simon Swanson.
Sony Life will be represented on the board of ClearView through the appointment of a non-executive, non-independent director. The director will be appointed, subject to meeting APRA&#8217;s regulatory requirements, to fill a casual vacancy and accordingly will be subject to re-election at the 2017 shareholders&#8217; meeting. The Board is supportive of this appointment to initiate a long term strategic relationship between the two companies.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/japans-sompo-to-buy-us-insurer-endurance-specialty-for-6-5b-54727/" target="_blank">Japan’s Sompo to buy US insurer Endurance Specialty for $6.5b</a>

Sony Life acquires Crescent Capital's stake in ClearView Wealth Ltd

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Sony Life acquires Crescent Capital's stake in ClearView Wealth Ltd

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief