Commonwealth Bank of Australia to sell advisory firm Count Financial

Credit: REUTERS/DANIEL MUNOZ

Australia's Commonwealth Bank of Australia on Thursday said it had agreed to sell advisory firm Count Financial Ltd to CountPlus Ltd for A$2.5 million ($1.7 million).

June 13 (Reuters) - Australia's Commonwealth Bank of Australia CBA.AX on Thursday said it had agreed to sell advisory firm Count Financial Ltd to CountPlus Ltd for A$2.5 million ($1.7 million).

CBA said it would provide an indemnity to CountPlus of A$200 million.

CountPlus has equity holdings in 15 Count Financial member firms.

Australia's largest lender also said it would continue to support and manage customer remediation matters arising from past issues at Count Financial, including after completion of the transaction.

($1 = 1.4428 Australian dollars)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Stephen Coates)

((abyjose.koilparambil@thomsonreuters.com; +91 80 67496061; Reuters Messaging: abyjose.koilparambil.thomsonreuters.com@reuters.net))

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