Australian Finance Group Ltd (ASX:AFG) has completed the acquisition of a 75% stake in leading asset finance aggregator, National Finance Alliance Pty Ltd, trading as Fintelligence. The combined group has more than 3335 brokers and delivers combined asset finance settlements of more than $1.7bn per annum, based on combined, proforma results. AFG has an exclusive option to acquire the remaining 25% interest in Fintelligence over the next three and a half years with value linked to Fintelligence achieving agreed milestones.
Following the announcement, shares of Australian Finance Group Ltd traded flat at $2.58/share.