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Chesnara gets regulatory nod to acquire L&G's Dutch insurer

Chesnara Plc's proposed acquisition of Legal & General Nederland Levensverzekering Maatschappij NV has been cleared by the Dutch central bank.

Chesnara agreed the €160 million acquisition of the Legal & General Group Plc unit in November 2016, with the deal to be partially financed by a successful placing and open offer raising approximately £70 million.

The acquisition is expected to complete by April 6, the company said March 30.