Pepper Money's Acquisition of Remaining Stake in Stratton Finance

Pepper Money Limited (ASX: $PPM) has exercised the call option over the remaining 35% stake in Stratton Finance Pty Limited. The purchase price for the remaining 35% is the base price of $42 million, and the acquisition is expected to complete by no later than 30 April 2024.

Executive Commentary on Acquisition

We are pleased to announce the exercise of the call option over the remaining 35% shares in Stratton Finance Pty Limited. This strategic move aligns with our commitment to expanding our presence and offerings in the non-bank lending sector. The acquisition of the remaining stake in Stratton Finance will further strengthen our position and enhance our ability to provide innovative financial solutions to our customers.

Summary of Pepper Money's Acquisition

Pepper Money Limited (ASX: $PPM) has exercised the call option over the remaining 35% shares in Stratton Finance Pty Limited, with the acquisition expected to complete by no later than 30 April 2024. The purchase price for the remaining 35% is the base price of $42 million, and Pepper Money will fund the transaction from existing cash. This move reflects Pepper Money's strategic focus on expanding its product offerings and strengthening its position in the non-bank lending sector. The acquisition aligns with Pepper Money's goal of providing innovative financial solutions to customers and signifies a significant step in its corporate strategy.