Norton Rose Fulbright advises Connective Group on $120m AFG merger
Australian mortgage aggregator Connective Group’s merger with ASX-listed financial solutions company Australian Finance Group Limited (AFG) will be valued at $120 million, as advised by law firm Norton Rose Fulbright.
However, the transaction remains conditional upon validation and approval from a court, Connective Group shareholders, the Australian Competition and Consumer Commission (ACCC) and AFG shareholders.
The merger would create a larger national mortgage distribution network of over 6,575 brokers and combined mortgage settlements of $76 billion in FY19.
Norton Rose Fulbright’s team was led by corporate mergers and acquisitions (M&A) partner Jasmine Sprange, restructuring partner Alex Mufford and special counsel Bernie Walrut.
Mufford and Sprange, Norton Rose Fulbright partners, said: “The deal has been multi-faceted and gave us the opportunity to combine our skills across M&A, restructuring, competition and a number of other specialist areas. We look forward to working with stakeholders towards satisfying the deal conditions.”
AUTHOR
Chris Dastoor
Recommended for you
After seven years at the company, Iress’ chief technology officer for wealth management APAC, Anthony Gerrits, has departed as the firm commences a search process to fill the role.
With advice firms thinking about scaling up in 2025, research has detailed the main avenues financial advisers say they have used for successful recruitment.
The board of Insignia Financial has reached a decision regarding the possible acquisition of the firm by US private equity giant Bain Capital.
Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses.
