About This Deal

News Corporation acquired Smartline Home Loans Pty Limited (REA Group) for ~A$70 million (~US$55 million) for 80.3% interest, a transaction announced in July 2017.

REA Group acquired an 80.3% interest in one of Australia's premier mortgage-broking franchise groups, adding scale to its financial-services business.

REA Group acquired an 80.3% interest in one of Australia's premier mortgage-broking franchise groups, adding scale to its financial-services business.

Deal Terms

Acquirer
News Corporation
Target
Smartline Home Loans Pty Limited (REA Group)
Value
~A$70 million (~US$55 million) for 80.3% interest
Date
July 2017
Type
Full acquisition
Status
Completed

Transaction Details

Announced
July 2017

In Their Words

Smartline is one of Australia's premier mortgage broking franchise groups, and the acquisition provides REA Group's financial services business with greater scale and capability.

Advisors

Advisory firms were not disclosed for this transaction.

Related Deals & Entities

Sources: Press release ↗

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