Bazza shows that its all in the timing
Not lost on Outsider last week was the fact that his old mate Barry Lambert has an acute sense of timing.
This was driven home by the fact that in 2011 Bazza flogged off Count Financial to the Commonwealth Bank in a transaction valued at around $343 million and, a mere 11 years later, CountPlus acquired Count Financial for a mere $2.5 million.
It is not so long ago that Bazza was a member of the board of the publicly-listed CountPlus and Outsider noted that he appeared to be well across the details of last week’s transaction albeit that he is these days far more focused on horticultural pursuits, specifically the growing of medicinal marijuana.
Outsider happens to know that CountPlus chief executive and former Financial Planning Association chairman, Matthew Rowe had been casting an acquisitive eye towards
Count Financial for some time and had possibly learned from Bazza the art of timing.
In Outsider’s view, the key to the transaction is not just the bargain basement price but the $200 million indemnity being provided by the Commonwealth Bank which will hold good for the next four years.
AUTHOR
The Outsider
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