Diverger bids for Centrepoint Alliance
Diverger has submitted an indicative proposal to acquire Centrepoint Alliance.
In an announcement to the Australian Securities Exchange, the firm said the offer was for a combination of cash and Diverger shares valued at $0.325 per Centrepoint Alliance share by way of a scheme of arrangement.
This price represented a 30% premium to Centrepoint Alliance’s last close price at 22 June.
Diverger said the potential combined group would mean:
- A significantly strengthened market-leading position with greater operational scale with services being provided to an adviser footprint of more than 1,400 advisers post completion;
- An expansion of core client services utilising the skill and expertise of both Diverger’s and Centrepoint Alliance existing operations team and combined product offerings;
- A platform for enhanced market liquidity for both organisations and;
- A shared ability to leverage the technology capability and learnings from Diverger’s technology partnerships.
“Diverger looks forward to working collaboratively with the Centrepoint Alliance Board to undertake due diligence and execute binding transaction documents in an efficient manner to provide Centrepoint Alliance shareholders with a high degree of certainty, limited conditionality and minimal execution risk.”
The indicative proposal remained subject to due diligence and regulatory and board approval.
AUTHOR
Laura Dew
Recommended for you
The profession is up by almost 200 advisers for the new financial year, with August continuing the consistent weekly positive gains.
WT Financial has announced its second “Hubco” with a combined valuation of $7.8 million, while its first one has successfully incorporated and is now making its own acquisitions.
The Australian Wealth Advisors Group has entered into a joint venture with a Melbourne financial services firm to launch a wealth manager.
Remediation and litigation costs have led AMP to announce a reduced statutory net profit after tax of $98 million for the first half of 2025.
