Sony Life is a wholly-owned subsdiary of Sony Financial Holdings, which is listed on the Tokyo Stock Exchange. Sony Financial is in turn 62.1% owned by the Sony Corporation.
Sony Life will buy ClearView shares at $1.48 each per share in an off-market transaction which isn’t subject to regulatory approval.
After this deal, Sony Life will become a strategic shareholder of ClearView, and will be represented on the Board via a non-executive, non-independent director.
ClearView posted a net profit of $23.6 million at 30 June 2016.