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

Elanor Investors

06/04/2023 02:28

April 6 (Reuters) - Elanor Investors Group  ENN.AX :
    * 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

Source text for Eikon:  ID:nASX7nfmpQ 
Further company coverage:  ENN.AX 

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