Bell Financial Group to Acquire Selfwealth for AU$57.7 Million

MT Newswires Live

Nov 25, 2024

Bell Financial Group (ASX:BFG) entered a scheme implementation deed to acquire Selfwealth (ASX:SWF) for AU$0.25 per share, valuing the trading platform at about AU$57.7 million, according to a Monday filing with the Australian bourse.

The acquisition will be structured as a scheme of arrangement, with shareholders offered cash, scrip, or a mix, with scrip capped at 50% of the total scheme consideration, the filing said.

Bell Financial expects the deal to boost its online broking business, adding 130,000 active portfolios and increasing sponsored holdings to AU$94 billion. The acquisition is projected to be accretive to earnings per share post-integration.

The scheme meeting of Selfwealth shareholders is set for March 2025.

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