COMPANIES National Australia Bank is in late stage talks to buy the Wizard Home Loans brand name, Australian distribution network, and part of its mortgage book from GE Money nearly seven months after the Australian non-bank lender was put on the auction block by the General Electric subsidiary.
The Australian bank declined to provide a purchase price saying it was “not material”, however reports in Australia had suggested the price could be less than A$100m ($70m), excluding the mortgage book.
