Canberra – Azimut signed today an agreement to acquire the entire share capital of Empowered Financial Partners (“EFP”) through its Australian subsidiary AZ Next Generation Advisory Pty Ltd (“Az Nga”). The agreement provides, for 49%, an exchange of EFP shares with Az Nga shares, and the progressive repurchase of these shares in the next decade. The remaining 51% will be paid to the founding shareholders in cash over a period of two years. This eighth agreement follows the announcement of the acquisition of: Eureka Whittaker Macnaught (“Ewm”), Pride Group (“Pride”), Lifestyle Financial Planning Services (“Lfps”), Financial Lifestyle Partners (“Flp”), Harvest Wealth (“Hw”), Wise Planners (“Wp”) and RI Toowoomba (“Rit”). Az Nga’s goal is to consolidate its role as financial advice provider in Australia, offering asset allocation services to retail clients, HNW and local institutions. (9Colonne)
