The ownership of a minority stake in Professional Investment Holdings (PIH) is expected to be known in the coming weeks, the group's managing director has said.
PIH managing director Grahame Evans said an announcement is expected shortly on the future of the 19.4 per cent option MLC decided not to exercise.
"I'm expecting there will be an announcement at some stage in the next week or so," Evans said.
"MLC are obviously no longer involved. They didn't take up the option, so Aviva Plc are there and there are some ongoing discussions about their stake at the moment.
"I couldn't speculate on it at the moment but it is unlikely to be a completely new third party."
In September, MLC announced it had decided not to exercise its option to acquire the PIH stake.
"MLC will not exercise its option to acquire a minority stake in PIH. We have a good relationship with the PIH group and will continue to work closely with them to provide access to MLC insurance and investment products," MLC executive general manager of advice & marketing Richard Nunn said.
The option to acquire a minority stake in PIH was obtained as part of MLC's acquisition of Aviva Australia Holdings Limited.
Meanwhile, the parent company of dealer group Professional Investment Services announced earlier this week it had reached the required 75 per cent of votes in favour of the merger with Centrepoint Alliance in each share class.
PIH and Centrepoint will now seek Federal Court approval, with a hearing scheduled for Monday 29 November 2010.
The issue of Centrepoint shares to PIH shareholders is scheduled for Monday 13 December 2010.
