Prime Financial Group to Acquire Australian Investment Research, Funds Management Firm

MT Newswires Live

Apr 22

Prime Financial Group (ASX:PFG) agreed to acquire Lincoln Indicators, an Australian investment research, portfolio, platform, and funds management business, along with related intellectual property, according to a Tuesday filing with the Australian bourse.

The acquisition involves a total consideration of AU$15.8 million for on-target earnings before interest, taxes, depreciation, and amortization performance, potentially AU$17.9 million if earnings targets are exceeded, payable in cash and shares over a three-year period, the filing said.

Additional consideration will also be payable for the associated intellectual property held by a related party to Lincoln Indicators, per the filing.

Prime Financial Group shares rose 2% in midday trade on Tuesday.

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