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International

Insurance Australia Group receives competition watchdog's approval for Wesfarmers bid

March 26, 2014 Reprints

Insurance Australia Group Ltd. has gained the Australian Competition and Consumer Commission's approval to acquire Wesfarmers Ltd.'s insurance underwriting operations for $1.85 billion Australian ($1.68 billion), Brisbane Times reported.

The competition watchdog said the deal would not weaken competition in the insurance sector to a large extent.

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Insurance Australia Group receives competition watchdog's approval for Wesfarmers bid

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