Mortgage aggregator deal not opposed

The ACCC has announced it will not oppose the proposed acquisition of Connective Group Pty Ltd by Australian Finance Group Ltd.

The ACCC issued a statement of issues in relation to the proposed acquisition in February. However, the ACCC has concluded that although the acquisition will create ‘the largest mortgage aggregator in Australia’, it is still ‘likely to continue to face robust competition’ with the result that a substantial lessening of competition was not likely.

See ACCC media release.

See merger register.