{"id":12118,"date":"2011-08-30T23:09:40","date_gmt":"2011-08-30T13:09:40","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/2011\/08\/30\/cba-buys-count\/"},"modified":"2021-04-15T10:18:17","modified_gmt":"2021-04-15T00:18:17","slug":"cba-buys-count","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2011\/08\/30\/cba-buys-count\/","title":{"rendered":"CBA Buys Count"},"content":{"rendered":"

Commonwealth Bank of Australia (CBA) has announced it has agreed to acquire dealer group, Count Financial Limited.
\n
\nCBA will pay $1.40 per share to acquire the accountant-based adviser group, which will increase the number of advisers operating under CBA-owned distribution from approximately 1,220 to over 1,850. CBA says this will rank it second largest distribution network in Australia by adviser numbers.<\/p>\n

In making this move, CBA noted a number of specific benefits to its business:<\/p>\n

    \n
  1. It provides CBA further access to the important and growing self managed super fund sector<\/li>\n
  2. The Count business is complementary to CBA’s Colonial First State advice businesses<\/li>\n<\/ol>\n

    Commonwealth Bank Group Executive, Wealth Management, Grahame Petersen,<\/strong> said:<\/p>\n

    “Our intention is to run the business on a standalone basis, supporting its business strategy, current open architecture platform philosophy and providing a platform for growth through a highly regarded network of accountant-based financial advisers.”<\/p>\n

    “We believe an acquisition of Count is an excellent strategic and cultural fit,” added Mr Petersen.<\/p>\n

    CBA says the acquisition transaction scheme is subject to a number of conditions, but it is expected that a Count shareholder meeting scheduled to be held in November 2011 will approve the acquisition.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Commonwealth Bank of Australia (CBA) has announced it has agreed to acquire dealer group, Count Financial Limited.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,6],"tags":[],"class_list":["post-12118","post","type-post","status-publish","format-standard","category-company-news","category-dealer-groups"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/12118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=12118"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/12118\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=12118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=12118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=12118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}