Invers Based SBS Bank Conditionally Purchases The Warehouse Group Financial Services

The Board of SBS and Finance Now Limited is pleased to announce that they have conditionally purchased The Warehouse Group Financial Services. Finance Now has been conducting due diligence over the past few weeks and, subject to the finalisation of formal documentation, the sale is expected to be completed within the next five weeks.

The sale expands an existing working relationship between The Warehouse and the SBS Banking Group, of which Finance Now is a subsidiary.  John Ward, Chair of the SBS Banking Group said, “this transaction is a positive development for the SBS Banking Group and in particular Finance Now. We look forward to continuing our long-standing and well established relationship with this strong New Zealand brand.”

The purchase does not include Diners Club New Zealand.  More details will be provided at the time of the settlement of the transaction.

Note- this is conditional.