Investment funds and superannuation ratings house Lonsec is set to change hands — and investors will hear all about it on Thursday.
Street Talk can reveal Lonsec is headed to ASX-listed Generation Development Group, the life insurance and funds business overseen by ex-Westpac banker Rob Coombe and former Olympian Grant Hackett.
Generation Development Group will fund the deal with an equity raising, expected to launch tomorrow. The deal should put the company on insto investors' radars; first because of the raising, and second because of how they use Lonsec.
While the short sellers were piling pressure on Vaughan Bowen's acquisition hungry Uniti Group last week, another big name in the telco sector took it as a chance to get set in the company.
