News Corporation acquired Smartline Home Loans Pty Limited (REA Group) for ~A$70 million (~US$55 million) for 80.3% interest, a transaction announced in July 2017.
REA Group acquired an 80.3% interest in one of Australia's premier mortgage-broking franchise groups, adding scale to its financial-services business.
REA Group acquired an 80.3% interest in one of Australia's premier mortgage-broking franchise groups, adding scale to its financial-services business.
Smartline is one of Australia's premier mortgage broking franchise groups, and the acquisition provides REA Group's financial services business with greater scale and capability.
Advisory firms were not disclosed for this transaction.