Heartland Group, the parent company behind Australian livestock finance provider StockCo, has signed a conditional share purchase agreement for the acquisition of Challenger Bank.
The key benefit in the deal is that it shifts Stockco’s access to funds from retail to wholesale level, providing opportunity to expand lending capacity in Australia.
The $36 million deal is subject to obtaining the requisite regulatory approvals.
Based in Melbourne, Challenger Bank is an established authorised deposit-taking institution (ADI) which offers agricultural and other customers a range of savings…
