Login
ISCOVER
Industry speculation is mounting that Mortgage Choice will soon acquire Suncorp's LJ Hooker real estate agency business.
According to a report in today’s The Australian, the broking group is said to be finalising a deal with the real estate agency chain for between $60 million and $70 million.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
Mortgage Choice’s senior corporate affairs manager Kristy Sheppard, when contacted by Mortgage Busniess, refused to comment on market speculation.
A Suncorp spokesperson also refused to offer insights, except to say that LJ Hooker remains a key part of Suncorp’s business.
However, an industry source close to the deal has reservations, saying the report is “completely untrue.”
The real estate agency was officially put up for sale in September last year, with Suncorp seeking a price tag of between $90 million and $110 million.
The deepening effects of the banking crisis forced the company to later pull the agency from the market.
In March this year The Australian Finanical Review reported that the LJ Hooker real estate brand had caught the eye of Aussie founder John Symond and that a bid for the group was "discussed over a coffee".
