Announced
Financials
Sources
Tags
Australia
Acquisition
Domestic
Mortgage Finance
Private
Pending
Friendly
retail financial services
Majority
Single Bidder
Synopsis
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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