Heartland Group Holdings Ltd. (DE:73X) has released an update.
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Challenger Limited has finalized the divestiture of Challenger Bank to Heartland Group Holdings Limited’s subsidiary, Heartland Bank Limited, following regulatory approval from APRA and RBNZ. The transaction will result in an $11 million pre-tax profit for Challenger and a $40 million capital boost to its Life division. Post-sale, Challenger intends to concentrate on its Life and Funds Management sectors to support its mission of enhancing retirement financial security.
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