This seems like a great outcome for Lendi and BTI. It will take...

This seems like a great outcome for Lendi and BTI. It will take 55% of the new merged company, even though Aussie has a much larger loanbook.

Quote from the AFR says - "The exact financial details were not disclosed, but the terms are surprisingly favourable to Lendi, which is far and away the junior of the two by most metrics. It has an $8 billion loan book to Aussie's $70 billion, and 20,000 customers to Aussie's 200,000."

The other thing the ASX release does not mention, but the AFR report does is that they intend to float the new merged company. AFR says - "The deal, first reported by The Australian Financial Review's Street Talk column in November, will create a new ASX-listed mortgage broking firm with a nearly $80 billion loan book and 220,000 customers."

I am trying to track down how much of Lendi that BTI actually owns, but am struggling to find anything. From memory it was relatively low (around 10%) after recent cash injections from some of the other bigger partners.But that number is from memory and could be completely wrong.

If anyone does know the ownership % that BTI has in Lendi, please let us know.

To find the AFR article, just search "cba-to-divest-majority-of-aussie-in-lendi-merger-20201216"