From the deal journalRhg Ltd. RHG.AU 0.00%, an Australian home...

From the deal journal

Rhg Ltd. RHG.AU 0.00%, an Australian home loan company with a market value of about 143.4 million Australian dollars (US$148 million), has received a takeover approach from local non-bank lender Resimac Ltd., a person familiar with the matter said Monday.

Resimac’s approach is in its early stages, the person said.

RHG shares were placed in a trading halt by the company and last traded at 46.5 Australian cents each.

RHG was created in 2007 when Westpac Banking Corp. WBC.AU +0.43% bought the brand name, franchisees and future business of non-bank lender Rams Home Loans. RHG contained all of Rams’ old business and currently has no ongoing business.

In the year to June 30, the company earned a net profit of A$40.7 million from a closed A$2.8 billion mortgage book.