Centrepoint Alliance has completed its acquisition of ClearView Financial Advice, with Clearview controlling 25% of the voting power in the company.
The proposed acquisition was announced on 25 August, 2021, and included Matrix Planning Solutions and LaVista Licensee Solutions.
The combined group would have more than 1,300 licensed and self-licensed advisers across Australia.
Following approval and authorisation by shareholders at the company’s annual general meeting, Centrepoint issued 48 million fully paid and 12-month escrowed ordinary shares to ClearView as the final component of consideration payable under the transaction.
The issue resulted in ClearView becoming a strategic and substantial investor in Centrepoint and would control 25% of the voting power in the company.
John Shuttleworth, Centrepoint chief executive, said “Since announcing the acquisition, we are well advanced integrating the businesses.
“Having finalised our operating model and organisational, structure, we have strengthen our senior leadership team with employees from both Clearview and Centrepoint Alliance,”
“From [2 November] all employees will be co-located in the Centrepoint Alliance offices and will commence operating as part of one integrated company.”
Centrepoint said it continued to assess partnerships and other acquisition opportunities.
Comments
This will end in tears. Such a stellar track-record Centrepoint in doing deals. Only took them 12 months to obliterate the Enzumo XPLAN business they bought.
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