trending Market Intelligence /marketintelligence/en/news-insights/trending/F5lPc0a-BudeT_1ji6GJZA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Australian Finance Group to merge with Connective Group

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Australian Finance Group to merge with Connective Group

Australian Finance Group Ltd. entered into a binding conditional implementation deed to merge with the mortgage aggregation business of Connective Group Pty Ltd.

Under the transaction, Connective Group will receive A$60 million in cash and 30,886,441 Australian Finance Group shares issued at A$1.9426 per share, valuing the acquisition at A$120 million. Australian Finance Group will primarily fund the cash component through a new corporate debt facility.

The combined group will have more than 6,575 brokers and combined mortgage settlements of A$76 billion in fiscal 2019.

Australian Finance Group said the transaction is expected to be EPS accretive in the first full financial year post integration.

Upon completion of the acquisition, Connective Group will hold a significant shareholding in Australian Finance Group. Glenn Lees, CEO of Connective Group, will also be offered the opportunity to join the board of Australian Finance Group.

The transaction, which is subject to shareholder and regulatory approvals, is expected to be completed in the second half of fiscal 2020.