NZ Super Fund plans cornerstone stake in Fidelity Life

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The New Zealand Superannuation Fund plans to take cornerstone stake of at least $100 million in Fidelity Life, the largest Kiwi-owned life insurer.

If the necessary conditions are met, including changes to Fidelity Life’s constitution, the transaction would see the NZ Super Fund taking a minimum 41.1 percent stake in the insurer, they said in a joint statement.

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