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Wizard Home Loans’ founder Mark Bouris will seek to regain control of the lender just four years after selling it to GE Money.
According to The Australian, Mr Bouris has “asked GE Money to pay him millions of dollars upfront to run the business, plus a stake in the company so he can sell it at a later date”.
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GE Money is believed to be seeking to avoid any such deal with Mr Bouris through finding an alternative buyer.
An announcement concerning the sale is expected to come from GE Money on Wednesday, the paper said
Published: 26-05-08
