MergerLinks - Heartland Group to acquire Challenger Bank from Challenger for $36m.

.

New Deal

New Deal

Announced

20 Oct 2022

Heartland Group to acquire Challenger Bank from Challenger for $36m.

Financials

Transaction Value£30m

Consideration TypeCash

Capital Owned-

Capital Bid For100%

EV/Sales-

EV/EBITDA-

Share Price Premium-

One Off Charge-

Challenger

vendor

Challenger

Challenger Bank

target

Challenger Bank

Heartland Group

bidder

Heartland Group

Sources

Tags

bank

Australia

Friendly

Majority

Pending

Banks

Acquisition

Cross Border

Private

Single Bidder

Synopsis

Heartland Group, a financial services group, agreed to acquire Challenger Bank, a retail bank, from Challenger, an investment management firm, for $36m.

Service Providers

Dealmakers (26)

Nick Hamilton

CEO at CHALLENGER LIMITED

Philippa Stone

Philippa Stone

Partner at Herbert Smith Freehills

David Tilley

Solicitor at Herbert Smith Freehills

Mark Ellis

CEO at CHALLENGER BANK

Michael Carroll

Senior Associate at Corrs Chambers Westgarth

Madeleine Kulakauskas

Special Counsel at Corrs Chambers Westgarth

Andrew Dixson

CFO at HEARTLAND GROUP

Stephen Price

Chairman at Corrs Chambers Westgarth

Kendra Turner

Lawyer at Corrs Chambers Westgarth

Nicola Foley

Group Head of Communications at HEARTLAND GROUP

Isaac Lin

Special Counsel at Corrs Chambers Westgarth

Chris Bell

Senior Associate at Corrs Chambers Westgarth

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