- CountPlus announces acquisition of Count Financial Limited
Congratulations to CountPlus on reaching shareholder approval of their acquisition deal for Count Financial.
CountPlus will acquire 100% of Count Financial Limited from the Commonwealth Bank of Australia. We were pleased to support CountPlus on this complex deal, which is anticipated to complete on 1 October.
Under the terms of the acquisition, the Commonwealth Bank of Australia will continue to support and manage customer remediation matters from past issues at Count Financial, and will provide an indemnity amount of $200m to CountPlus.
The acquisition will significantly enhance the scale and capability offered by CountPlus with an additional 359 financial advisers, 160 firms and $8.1b in total funds under administration.