Norton Rose Fulbright advises Connective Group on $120m AFG merger
Australian mortgage aggregator Connective Group’s merger with ASX-listed financial solutions company Australian Finance Group Limited (AFG) will be valued at $120 million, as advised by law firm Norton Rose Fulbright.
However, the transaction remains conditional upon validation and approval from a court, Connective Group shareholders, the Australian Competition and Consumer Commission (ACCC) and AFG shareholders.
The merger would create a larger national mortgage distribution network of over 6,575 brokers and combined mortgage settlements of $76 billion in FY19.
Norton Rose Fulbright’s team was led by corporate mergers and acquisitions (M&A) partner Jasmine Sprange, restructuring partner Alex Mufford and special counsel Bernie Walrut.
Mufford and Sprange, Norton Rose Fulbright partners, said: “The deal has been multi-faceted and gave us the opportunity to combine our skills across M&A, restructuring, competition and a number of other specialist areas. We look forward to working with stakeholders towards satisfying the deal conditions.”
AUTHOR
Chris Dastoor
Recommended for you
Two commentators have shared why cultural alignment can be the biggest deal breaker when it comes to advice M&A and how to ensure a successful fit.
With an abundance of private market options coming to market, due diligence becomes increasingly important as advisers separate the wheat from the chaff, adviser Charlie Viola has said.
The Treasury has launched a consultation into how the $47 million special levy for the Compensation Scheme of Last Resort will be funded.
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
