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ClearView responds to sale rumours

ClearView Wealth has cleared up speculation that it was exploring sale alternatives, with TAL and a Japanese life house as interested buyers.

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 a trade sale under the advice of its major shareholder, Crescent Capital. 

Another article by the newspaper said: "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."