Centrepoint Alliance Limited entered into an agreement to acquire Financial Advice businesses of ClearView Wealth Limited from ClearView Wealth Limited for AUD 15.2 million.

Centrepoint Alliance Limited (ASX:CAF) entered into an agreement to acquire Financial Advice businesses of ClearView Wealth Limited from ClearView Wealth Limited (ASX:CVW) for AUD 15.2 million on August 25, 2021. Under the terms, Centrepoint Alliance Limited (ASX:CAF) will issue of 48 million fully paid ordinary shares with a deemed issue price of AUD 0.25 each and a cash consideration of AUD 3.2 million. This issue of the Consideration Shares will result in CVW holding a 25% strategic equity stake in Centrepoint Alliance Limited.

The transaction is subject to a number of conditions, including approval of shareholders of Centrepoint Alliance, regulatory approvals and other customary conditions. Certain employees of ClearView will move across into the entities being sold and various transitional arrangements are to be agreed by the parties. The deal is expected to completed on or about 31 October 2021.