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FINWIRES

Count Advances Oracle Group Acquisition After ACCC Confirmation

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Count (ASX:CUP) received confirmation from the Australian Competition and Consumer Commission (ACCC) that its acquisition of Oracle Group does not require notification, paving the way for completion in the coming weeks, subject to remaining conditions being satisfied, according to a Monday filing with the Australian bourse.

The acquisition is expected to considerably grow the company's adviser network, enhance its wealth accounting platform, and strengthen its investment offerings, per the filing.

The company has also secured an expanded debt facility with Commonwealth Bank of Australia (ASX:CBA), comprising a AU$77 million acquisition facility, a AU$33 million accordion facility, and a AU$6.6 million working capital facility, the filing said.

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