YBR issues statement on Vow acquisition

The ASX statement responds to recent media speculation concerning YBR’s potential acquisition of the aggregator.

“Yellow Brick Road Holdings Limited (the Company) is aware of media speculation concerning potential acquisitions by the Company of certain named companies,” the statement said. “The Company is in discussions with the board of Vow Financial Holdings Pty Limited.

“At this time, no binding agreement has been entered into, other than the parties being in exclusive arrangements.”

YBR added that it will keep the ASX informed of any further developments.

The statement comes on the same day as the Australian Financial Review reported that a deal with Vow Financial may be struck “as early as next week”.

Vow has a network of more than 700 mortgage and finance brokers throughout Australia with loans under management of over $19 billion.