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City Pacific sells franchise brokerage

Staff Reporter 1 minute read

Franchise brokerage City Pacific Finance, subsidiary of embattled City Pacific, will be sold to  OneLend Corporation for $2.2 million, according to a statement released to the ASX today.

“Subject to certain conditions being satisfied settlement is anticipated to occur on 12 December 2008,” the statement read.

City Pacific has built a network of over 40 franchise outlets across Australia and a loan book in excess of $3 billion.

Melbourne-based OneLend describes its self “a leader in niche market mortgages”. 

Franchise brokerage City Pacific Finance, subsidiary of embattled City Pacific, will be sold to  OneLend Corporation for $2.2 million, according to a statement released to the ASX today.

“Subject to certain conditions being satisfied settlement is anticipated to occur on 12 December 2008,” the statement read.

City Pacific has built a network of over 40 franchise outlets across Australia and a loan book in excess of $3 billion.

Melbourne-based OneLend describes its self “a leader in niche market mortgages”. 

City Pacific sells franchise brokerage
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