Centrepoint Alliance to Divest Lending Aggregation Business to Astute Financial; Shares Jump 4%

MT Newswires Live
Feb 17

Centrepoint Alliance (ASX:CAF) will divest its lending aggregation business to Astute Financial Management while retaining the back-book revenue, according to a Tuesday Australian bourse filing.

Astute will receive all new-business revenue generated from the lending aggregation business, the filing said. Centrepoint secured the financial advice license margin that Astute derives from Astute-aligned advisers operating under Centrepoint's Australian financial services license.

The deal is expected to be completed on March 31, per the filing. The revenue exchange and resulting simplification are expected to deliver earnings before interest, taxes, depreciation, and amortization uplift of around AU$400,000 per year from fiscal 2027.

Centrepoint Alliance's shares rose 4% in recent trading on Tuesday.

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