Compelo Banking is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

SFG Australia proposes friendly scrip-based merger with WHK Group

Australia-based financial advisory firm WHK Group and SFG Australia are planning to integrate their operations, and set up a new entity to expand their businesses using combined resources.

A non-binding indicative proposal was provided by SFG to WHK board in relation with the merger, which has completed preliminary mutual due diligence, to date.

SFGA has proposed a merger ratio, which would result in WHK shareholders owning 42% of the merged group that equals to 0.503 WHK shares for each SFG share.

The ratio compares to approximately 39% and 40% respectively if either the current spot prices or 3-month VWAP’s were used.

WHK’s board is now assessing the offer, and it is possible that the deal could not be concluded.

The proposed merger has also been welcomed by a major shareholder Perpetual Smaller Companies, which owns nearly 5.3% stake in WHK Group.

Listed on the Australian Securities Exchange, SFG Australia had $11.3bn in funds under advice, $9.8bn in funds under administration and $4.6bn in funds under management, as at 30 September 2012.