Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

YBR sells stake to Nine

Staff Reporter 1 minute read

Yellow Brick Road has formed a strategic alliance with Nine Entertainment Holdings.

Under the alliance, Nine will invest $13 million in Yellow Brick Road via a subscription for ordinary shares at a price of $0.40 per share, giving the company a 19.9 per cent stake in YBR.

The Nine investment is subject to a number of conditions including the completion of a due diligence process satisfactory to Nine and YBR Group, completion of the acquisition of YBR by ITS and the intended public raising by YBR Group, both as approved by ITS shareholders.

A YBR spokesperson told The Adviser that the alliance would support the group's branch managers, which offer home loans and other financial products, as well as YBR's recruitment potential.

"The association with Nine will offer strong marketing and brand building networks for YBR and our branch channel," the spokesperson said.

YBR sells stake to Nine
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
handshake news Ex-broker head to lead MyState banking

A former broker head has returned to MyState Bank to tackle turna...

BBS 2021 ta SA/NT’s top brokers crowned

The leading brokers in South Australia and the Northern Territory...

Paul Kearney ta AFCA recruits from ME Bank

The complaints authority has named a new executive general manage...