June 27 (Reuters) - REA Group Ltd (REA)
- realestate.com.au pty has entered into agreement to acquire majority stake in mortgage broking franchise business, Smartline
- realestate.com.au pty also entered into strategic mortgage broking partnership with National Australia Bank Limited
- Co to acquire a majority stake in Smartline for purchase consideration of $67 million
- expects REA's financial services segment to contribute revenue of between $26 million to $30 million and ebitda between $7 million to $11 million in FY18
- realestate.com.au will acquire an 80.3% stake in Smartline
- Minority shareholders hold a put option to sell remaining 19.7% of shares which can only be exercised after three years
- If put option to sell remaining 19.7% of shares not exercised, REA will acquire remaining shares at end of four years
News: REA REA Group announces investments in the mortgage broking market
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Last
$247.37 |
Change
1.860(0.76%) |
Mkt cap ! $26.15B | |||
| Open | High | Low | Value | Volume |
| $246.72 | $249.38 | $246.67 | $31.54M | 127.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 53 | $247.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $247.41 | 33 | 1 |
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| REA (ASX) Chart |
