The mission goals to make use of Australian Group Media (ACM)’s regional publishing firm in Catalano, together with Seven’s metropolitan and regional tv community, in addition to its Western Australian newspapers, to increase the true property mission.
Including a financial institution is a logical solution to increase the companies additional.
Fascinating to see ANZ take stakes within the mission. Australia’s huge 4 banks are in search of methods to win a bigger slice of the nation’s mortgage market, turning to M&A and partnerships with the likes of View Media Group to draw new prospects and spherical out the house mortgage ecosystem.
Sources stated ANZ CEO Shane Elliott is closely concerned within the negotiations.
On the identical time, on-line actual property teams are attempting to get mortgage-starved prospects to make use of their companies to seek for actual property. The REA Group, Australia’s largest property firm, acquired listed mortgage dealer Mortgage Alternative in 2021 to spice up its providing.
When it purchased Seven West final yr, it was anticipated to personal about 20 % of the shares, whereas Catalano and Weisslitz every held about 20 %.
Spokespeople for ANZ and View Media declined to remark.