Business Services Industry
ABN Amro takes 40pc stake in Bluestone Group.
Australasian Business Intelligence, November, 2005
Byline: Joyce Moullakis
Nov 22, 2005 (The Australian Financial Review - ABIX via COMTEX) -- ABN Amro will acquire a 40 stake in an Australian non-conforming lender, Bluestone Group. The deal, estimated to be worth
between $A150 million and $A200 million, will give ABN Amro Capital two seats on the Bluestone board. As part of the acquisition agreement, UK-based Cambridge Place Investment Management and Bluestone chairman David Clark will take a combined 10 stake in Bluestone. The purchase includes newly issued shares and stock sold by existing shareholders. Bluestone CEO Alistair Jeffery will reduce his holding in the company from 40 to 25. Jeffery will remain as CEO until...
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