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The proposed merger between Professional Investment Holdings (PIH) and listed premium funding company Centrepoint Alliance appears to be on track, though somewhat delayed.
A statement from Centrepoint managing director Tony Robinson to the Australian Securities Exchange said due diligence work is continuing and is expected to be completed by next Friday, 25 June.
The group had expected to complete the process earlier but found it to be “more involved and time consuming” than estimated. In the statement Centrepoint reinforced that its intention to merge with the group was conditional upon due diligence and regulatory approvals. The group said a further announcement would be made upon completion of due diligence.
PIH is the parent company of Professional Investment Services, one of Australia’s biggest dealer groups.
