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Non-bank lender merger announced

Non-bank lender merger announced

Jonathan Algar, Clayton Utz

A national and a global firm are advising either side of a proposed merger between RESIMAC Limited and Homeloans Limited.

Firms: Clayton Utz (RESIMAC Limited); K&L Gates (Homeloans Limited)

Deal: RESIMAC Limited and Homeloans Limited have entered a scheme of arrangement to merge.

Value: $13 billion

Area: M&A

Key players: The Clayton Utz team was led by corporate partner Jonathan Algar (pictured), with assistance from partners Sonia Goumenis and Matthew Daley, senior associate Adam Foreman and lawyer Jared Webster.

Deal significance: RESIMAC Limited proposed a merger with Homeloans Limited via scheme of arrangement, announced to the market on 20 July.

Homeloans entered into a scheme implementation agreement with RESIMAC Limited, under which Homeloans will merge with RESIMAC through the issue of new Homeloans shares to RESIMAC shareholders and the acquisition by Homeloans of all the shares in RESIMAC.

When completed, the tie-up will create one of Australia’s largest non-bank lenders, with a combined loan portfolio in excess of $13 billion.


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Non-bank lender merger announced
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