Listed financial services firm Australian Wealth Management (AWM) was officially removed from the Australian Securities Exchange (ASX) on Friday.
AWM's removal comes after the scheme of arrangement between the firm and fellow listed group IOOF was completed.
"All AWM shares have been transferred to IOOF and all options over AWM shares have been cancelled in accordance with the scheme," an AWM statement to the ASX said.
"An application to delist AWM from the ASX will be made shortly," the statement said.
The two groups announced their merger in November last year. Under the terms of the merger, the combined entity would be named IOOF.
The transaction represented an excellent opportunity to further build both the short- and long-term growth prospects of the business, AWM managing director Chris Kelaher told InvestorDaily in March.
"Both companies had been looking at it and clearly because AWM is many times larger than IOOF, when you put them all together it's highly attractive," he said.
Following the completion of the acquisition there would be a review of management structure, Kelaher said.
"Post merger with IOOF, I will be the managing director of that company and given that the company is buying Skandia, then it's most likely that I will be the managing director of the combined group," he said.
The total purchase price of the merger was to be around $34 million, comprising an upfront payment of $20 million to be paid on completion and a further payment to be made approximately 60 days after completion.
