Business
ASX 200 ends 0.7% higher on Wednesday 23 December 2020
The S&P/ASX 200 Index (ASX:XJO) went up by 0.7% today to 6,643 points.
Here are some of the highlights from the ASX:
The ASX 200 annuity business announced today that it’s going to buy a bank.
Challenger is buying MyLifeMyFinance, which is an Australia savings and loans bank, for $35 million.
The company likes the acquisition because it’s highly strategic and provides Challenger with the opportunity to significantly expand its secure retirement income offering.
After the acquisition, Challenger will hold an Australian Prudential Regulation Authority (APRA) authorised deposit-taking institution (ADI) licence, providing access to Australia’s $1 trillion term deposit market.
Challenger will initially focus on expanding the term…
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