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.”
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