Pepper Money Limited (ASX:PPM) agreed to acquire 35% stake in Stratton Finance Pty Ltd for AUD 42 million on March 20, 2024. The consideration consists of AUD 42 million in cash subject to customary adjustments for cash and working capital. Prior to the transaction, Pepper Money Limited (ASX:PPM) held 65%.

Pepper Money will elect to settle the acquisition in cash and expects to fund the transaction from existing Pepper Money cash. The transaction is expected to close on April 30, 2024.