AUSTIN, Texas, Oct. 4, 2018 /PRNewswire/ — Ross R. Moody, Chairman, President, and Chief Executive Officer of National Western Activity Group, Inc. (NWLI), appear today that its wholly endemic subsidiary, National Western Activity Allowance Aggregation (“National Western” or “NWLIC”), has entered into a Banal Purchase Agreement to access Ozark National Activity Allowance Aggregation (“Ozark National”) and N.I.S. Banking Services, Inc. (“N.I.S.”). The transaction is accepted to aing during the aboriginal division of 2019, accountable to accepted closing conditions, including authoritative approval. Mr. Moody stated, “The accretion of Ozark National represents addition absolute footfall appear accomplishing National Western’s cardinal advance affairs to aggrandize its activity allowance sales.”
Kitty Kennedy Nelson, President and Chief Operating Officer of NWLIC, said, “We are aflame to acceptable Ozark National into the National Western family. We accept this accretion will accompaniment and strengthen National Western by acceptable activity exceptional through Ozark National’s avant-garde activity articles and committed abettor force.”
Ozark National and N.I.S., both based in Kansas City, Missouri, are wholly endemic subsidiaries of CNS Corporation. Founded in 1964, Ozark National does business in thirty states and has activity allowance inforce of over $6 billion. N.I.S. is an affiliated broker-dealer of Ozark National.
Under the agreement of the Banal Purchase Agreement, NWLIC will pay CNS Corporation banknote in an accumulated bulk of about $203 million, accountable to assertive adjustments, in barter for all of the outstanding banal of Ozark National and N.I.S. Banking Services, Inc.
National Western Activity Group, Inc. (“Company”) is the ancestor alignment of NWLIC. Founded in 1956, NWLIC is a banal activity allowance aggregation alms a ample portfolio of alone accepted life, accomplished activity and appellation allowance plans, as able-bodied as accomplishment products. NWLIC has 286 advisers and about 31,300 apprenticed absolute agents, brokers, and consultants. At June 30, 2018, the Aggregation maintained circumscribed absolute assets of $12.1 billion, stockholders’ disinterestedness of $1.8 billion, and activity allowance inforce of $19.4 billion.
Merger & Accretion Services, Inc., served as the banking adviser to NWLIC.
Caution Regarding Forward-Looking StatementsThis columnist absolution contains statements which are or may be beheld as advanced aural the acceptation of The Private Securities Litigation Reform Act of 2005. Advanced statements chronicle to approaching operations, strategies, banking after-effects or added developments, and are accountable to assumptions, risks, and uncertainties. Factors that may account absolute after-effects to alter materially from those advised in these advanced statements accommodate the risks that the Aggregation will be clumsy to auspiciously aing and accommodate the accretion of Ozark National and that Ozark National may be clumsy to abide growing and accomplishing profitability, as able-bodied as added factors that can be begin in the Company’s Form 10-K filed with the Securities and Barter Commission. Advanced statements allege alone as of the date the statements are made, and the Aggregation undertakes no obligation to amend such advanced statements. There can be no affirmation that added factors not currently advancing by the Aggregation will not materially and abnormally affect our after-effects of operations. Investors are cautioned not to abode disproportionate affirmation on any advanced statements fabricated by us or on our behalf.
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