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Pepper sold for $20m

by Staff Reporter7 minute read
The Adviser

Making headlines today, The Australian Financial Review has reported that Pepper Homeloans has been officially acquired by a consortium of institutional investors.

The acquisition is understood to be in the order of around $20 million.

Early last month, The Adviser reported that the acquisition was in its final stages, as the specialist lender’s major stakeholders, Merill Lynch and Italy’s CIR SpA, were looking to exit the company.

Sales documents show the lender had total loans under management of about $3.2 billion at 30 June 2009, while its originated loans amounted $1 billion.

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