Centrepoint to acquire Clearview’s advice business
Clearview has entered into a share purchase agreement for the sale of its financial advice business to Centrepoint Alliance for $15.2 million made up of $3.2 million in cash and the acquisition of a strategic 25% stake in Centrepoint.
“The Centrepoint Alliance deal allows ClearView to indirectly participate in the financial advice industry consolidation (given structural market changes) and at the same time separate its product manufacturer and financial advice arms,” ClearView said.
“The acquisition will enable the group to realise strategic value and synergies between the two businesses,” Centrepoint said.
AUTHOR
Chris Dastoor
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