Australian Finance Group to acquire a 75% stake in asset finance aggregator

Australian Finance Group Ltd. will acquire a 75% stake in asset finance aggregator, National Finance Alliance Pty. Ltd., trading as Fintelligence.

Under the deal, the group will pay A$52.5 million for the stake, funded mainly by a new corporate debt facility, according to a Nov. 30 release.

Following the acquisition, the combined group will deliver combined asset finance settlements of over A$1.7 billion per year. The deal is expected to be EPS accretive in the first full year post-integration.

Australian Finance Group also has an exclusive option to acquire the remaining 25% stake in Fintelligence over the next 3.5 years.

The transaction is expected to be complete by Dec. 31, subject to confirmatory conditions precedent.