Quick forward, and Elliott and Catalano have actually lastly sewn up their online realty offer.
This time, Elliott’s just needed to spend about $50 million to get a tactical stake in Catalano’s View Media Group, which wishes to muscle into Domain (and arch competitor) REA’s area. Street Talk exposed the financial investment on Wednesday.
Plainly, ANZ’s perform at Domain– which has actually barely shot the lights out in its 5 years as a noted business– is historic, however it reveals simply the length of time the bank’s wished to enter into the online realty video game, in a quote to raise its home mortgages loanbook. Australia’s huge 4 banks are all rushing for methods to get a bigger piece of the nation’s competitive home loans market, relying on M&A and collaborations with the similarity View Media Group to record brand-new clients and complete their home mortgage offerings.
View Media Group owns a managing stake in online home portal realestateview.com.au, and intends to utilize Catalano’s local publishing organization and Seven West Media’s tv and papers to broaden the realty endeavor.
ANZ decreased to talk about Thursday.
Anthony Macdonald co-edits Street Talk, specialising in personal equity, financial investment banking, M&A and equity capital markets. He has 10 years’ experience as a company reporter and operated at PwC, auditing and recommending monetary services business. Get in touch with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Sarah Thompson has co-edited Street Talk considering that 2009, specialising in personal equity, financial investment banking, M&A and equity capital markets stories. Prior to that, she invested 10 years in London as a markets and M&A press reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com