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Sequoia Financial Group Ltd. ( (AU:SEQ) ) has provided an announcement.
Sequoia Financial Group has terminated its agreement to sell its subsidiary InterPrac Financial Planning to Conquest Investment Partners after the parties were unable to meet all conditions within the required timeframe. Subsequent developments changed the circumstances of the deal so that completion could not occur on the originally contemplated terms.
Citing the cost, complexity and uncertainty of continuing under revised conditions, Sequoia concluded that proceeding with the transaction would not be in shareholders’ best interests and confirmed the proposed sale will not go ahead. The company said it will keep reviewing strategic options for InterPrac and intends to keep the market informed in line with its disclosure obligations.
More about Sequoia Financial Group Ltd.
Sequoia Financial Group Limited is an Australian-listed financial services company operating through subsidiaries that provide wealth management and financial planning services. Its network includes licensee businesses such as InterPrac Financial Planning Pty Ltd, which supports financial advisers and their clients across various investment and advisory offerings.
Average Trading Volume: 225,817
Technical Sentiment Signal: Sell
Current Market Cap: A$24.52M
See more data about SEQ stock on TipRanks’ Stock Analysis page.