Brief: Clime Investment Management Says Exclusive Non-Binding Heads Of Agreement With Madison Financial Group
16/08/2023 02:11
Aug 16 (Reuters) - Clime Investment Management Ltd
CIW.AX :
* EXCLUSIVE NON-BINDING HEADS OF AGREEMENT WITH MADISON
FINANCIAL
GROUP AND PRACTICE DEVELOPMENT GROUP
* AGREEMENT TO FORM A STRATEGIC OPERATING ALLIANCE
* ALLIANCE WILL CONSOLIDATE RESPECTIVE SERVICE OFFERINGS OF
EACH
GROUP INTO A SINGLE ENTITY
* COMBINED, LICENSEES WILL HAVE ABOUT A$8 BILLION IN FUA
THROUGH
130 ADVISERS
* CREATION OF A NEW ENTITY, SERVICE CO
* CLIME TO PROVIDE "IN KIND" COMMERCIAL SERVICES OVER AN
INITIAL
TWO-YEAR PERIOD FOR A 10% EQUITY POSITION IN SERVICE CO
Source text for Eikon: ID:nASX1ksrb
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