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
EY has broken down which uses of artificial intelligence are presenting the most benefits for wealth managers as well as whether it will impact employee headcounts.
Advice licensee Sequoia Financial Group has promoted Sophie Chen as an executive director, following her work on the firm’s Asia Pacific strategy.
The former licensee of Anthony Del Vecchio, a Melbourne adviser sentenced for a $4.5 million theft, has seen its AFSL cancelled by ASIC after a payment by the Compensation Scheme of Last Resort.
The Australian Financial Complaints Authority has reported an 18 per cent increase in investment and advice complaints received in the financial year 2025, rebounding from the previous year’s 26 per cent dip.
