News: CGF Elanor Investors To Buy Challenger's Australian Real Estate Funds Management Business

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    April 6 (Reuters) - Elanor Investors Group (ENN) :

    • ACQUISITION OF CHALLENGER'S AUSTRALIAN REAL ESTATE FUNDS MANAGEMENT BUSINESS
    • WILL ISSUE 27.4 MILLION SECURITIES TO CHALLENGER AS CONSIDERATION FOR ACQUISITION
    • TO ACQUIRE 100% OF CHALLENGER'S A$3.4 BILLION AUSTRALIAN REAL ESTATE FUNDS MANAGEMENT BUSINESS
    • DEAL FOR A MAXIMUM CONSIDERATION OF A$41.8 MILLION
    • AGREEMENTS TO ALSO ESTABLISH A BROADER STRATEGIC PARTNERSHIP BETWEEN ELANOR AND CHALLENGER
    • ACQUISITION TO DELIVER MATERIAL FY24 EARNINGS ACCRETION
    • ENTERED INTO PARTNERSHIP WHEREBY ELANOR WILL BE CHALLENGERS' REAL ESTATE FUNDS MANAGEMENT PARTNER IN AUNZ
    • POST-TRANSACTION, CHALLENGER WILL BE ELANOR'S LARGEST SECURITYHOLDER WITH AN 18.2% HOLDING
 
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Last
$8.24
Change
-0.115(1.38%)
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