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Lendi advised on merger with Aussie Home Loans
Online loan platform Auscred Limited (Lendi) has been advised on its merger with CBA’s Aussie Home Loans business.
Jerome Doraisamy
Firm: Ashurst (Lendi).
Completion of the transaction is subject to a number of conditions, including ACCC clearance.
Value: Lendi shareholders will hold the majority shareholding of 55 per cent in the merged business, while Aussie’s current owner, CBA, will hold a 45 per cent shareholding and continue to provide funding for the Aussie Select branded home loan product.
Area: Corporate.
Key players: The Ashurst team was led by partner Anton Harris, with assistance from a “large number of partners and lawyers across the firm’s corporate transactions, tax, regulatory, digital economy, intellectual property, competition, employment, property, insurance and banking teams”, the firm said.
Deal significance: Speaking about the merger, Mr Harris said the firm is “delighted to have been Lendi’s trusted advisers over a number of years, and to have acted across a number of transactions including a proposed IPO and then this significant merger which serves as a great milestone in the Lendi business which started as a market disrupter in 2013.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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