Elanor Investors Group (ASX: ENN) and Challenger Limited (ASX: CGF) have announced an agreement in which Elanor will acquire Challenger's Australian real estate funds management business, CRE, for AU$3.4 billion. As part of the acquisition, Elanor successfully secured the ADIC mandate transfer, which confirms the transaction's assets under management (AUM) at AU$3.4 billion.
The purchase price for CRE has been reduced to AU$37.7 million due to the termination of a third-party advisory contract. Following the proposed transfer of Consideration Securities to ADIC, Challenger's interest in Elanor will be adjusted to 13.7%, while ADIC will hold a 3.0% interest in Elanor upon completion. Additionally, Elanor will grant ADIC options to purchase up to 7.5 million Elanor securities, with exercise prices ranging from AU$2.25 to AU$2.75 per security. If all the options are vested and exercised, ADIC's interest in Elanor will increase to 7.7%.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 20, 2024
Nov 20, 2024
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
