RTTNews | Dec 16, 2020 02:46AM EST

02:45 Wednesday, December 16, 2020 (RTTNews.com) - Commonwealth Bank of Australia (CBA.AX) agreed to merge its Aussie Home Loans with an online home loan platform Lendi.

Upon completion, CBA will retain a 45% shareholding in the combined business, with existing Lendi shareholders holding the remaining 55% shareholding.

CBA said it will also receive deferred consideration and a pre-completion dividend of A$105 million in aggregate. The deal is not expected to have a material financial impact on CBA's capital position. The deal is expected to complete by mid calendar year 2021.

Read the original article on RTTNews ( https://www.rttnews.com/3154039/commonwealth-bank-of-australia-s-aussie-home-loans-to-merge-with-online-home-loan-platform-lendi.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com All Rights Reserved