Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Aggregator quashes acquisition rumours

Staff Reporter 3 minute read

By: Jessica Darnbrough

Connective has today categorically denied that it is on the verge of being acquired by another major aggregation group.

Connective Principal Murray Lees told The Adviser that recent speculation that an AFG acquisition was imminent had reached boiling point, forcing the company to clarify the situation to its members and the broader industry.

“I would like to strenuously deny the rumours. We are not in discussions with AFG about a potential acquisition and nor will we ever be,” Mr Lees said.

Advertisement
Advertisement

“It is ironic that these rumours have gained the foothold they have, when we are actively looking to acquire companies.”

AFG general manager sales and operations Mark Hewitt has also confirmed with The Adviser that there was no substance behind the acquisition conjecture.

Mr Hewitt said that the aggregator had received calls from some of their lenders in recent days asking about the impending acquisition.

“While these rumours have been around for a long time, they have seemingly gathered pace over the last few weeks. But I can honestly say that we are not looking to acquire Connective,” Mr Hewitt said.

PROMOTED CONTENT


Aggregator quashes acquisition rumours
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
ASIC TA ASIC levy reflects ramped up enforcement: FBAA

ASIC’s raised industry funding levies reflect higher enforcemen...

money piggy 2ad3 Lockdowns threaten business loan demand: Equifax

Construction and retail trade have fuelled business loan growth i...

mortgage money house 48% of home loan applicants frustrated by paperwork

The majority of Australian borrowers think applying for a home lo...