The AIMS Financial Group has agreed to buy troubled stockbroker BBY and intends to operate the firm as a standalone entity.
AIMS said on Thursday that it intends to operate BBY under the BBY Asia Pacific Group brand.
AIMS also will consider bringing in new investors in the future.
BBY, which controls more than $2 billion in funds, was placed in administration on May 18.
BBY appointed KPMG to run the firm after it failed to secure new investors to inject new capital into its business.
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AIMS Financial Group chairman George Wang said AIMS wants to keep and grow the BBY brand, its people and its businesses.
"We are now actively working with the team at BBY to get things back and running normally as soon as practicable."
AIMS said BBY creditors may have to accept a deed of arrangement before BBY is returned to solvency.
AIMS said its subsidiary AIMS Securities would change its name to BBY Asia Pacific Group to help enable BBY's 56,000 clients to restart trading.
The AIMS Financial Group is a diversified financial services and investment group, active in the areas of mortgage lending, securitisation, stockbroking, investment banking, funds management, property investment and high-tech investment.
The group is headquartered in Sydney and has businesses across Australia, China, Hong Kong and Singapore.
