trending Market Intelligence /marketintelligence/en/news-insights/trending/LQA6ixVgVEeqYvaM2cEVVw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Azimut acquires Priority Advisory Group

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

Azimut acquires Priority Advisory Group

Azimut HoldingSpA said April 12 that it signed a binding agreement to acquire theentire capital of Priority Advisory Group through its Australian subsidiaryAZ Next Generation Advisory Pty.Ltd.

The agreement includes a share swap of 47% of PriorityAdvisory Group's equity for AZ Next Generation Advisory shares and aprogressive buy-back of these shares over the next 10 years. The remaining 53%stake will be paid to the founding partners in cash over a two-year period.

The total value of the transaction is about A$9 million. Theacquisition, which is not subject to local-authority approval, is expected toclose in April.

Priority Advisory Group is a financial advisory groupresponsible for A$389 million of funds under advice. Azimut said PriorityAdvisory Group's leadership team has agreed to long-term contracts to ensurecontinuity of service.

The deal is one of several recent AZ Next Generation Advisoryacquisitions.

As of April 11, US$1 was equivalent to A$1.31.