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New Deal


Announced

Lendi to merge with Aussie Home Loans.

Financials

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Transaction Value-
Consideration TypeContingent Deferred Consideration, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Australia

Acquisition

Domestic

Mortgage Finance

Private

Pending

Friendly

retail financial services

Majority

Single Bidder

Synopsis

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Lendi, an online home loan platform, agreed to merge with Aussie Home Loans, a mortgage broker. Upon completion, CBA will retain a 45% shareholding in the combined business, with Lendi shareholders holding the remaining 55%. CBA will also receive deferred consideration and a pre-completion dividend of A$105m in aggregate (subject to adjustments). “We believe the combined business will have a stronger platform to offer enhanced digital capabilities for Aussie brokers and a superior experience for customers," Matt Comyn, CBA CEO.

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