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CHALLENGER LIMITED M&A Activity 2004
64641_rns_2004-06-29_88f118ff-3b13-4805-95f0-30ba856e93c1.pdf
M&A Activity
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KAZ Group Limited
ABN 25 002 124 405
Level 10, 59 Goulburn St Sydney Australia 2000 Tel (02) 8263 2900 Fax (02) 8263 2999
www.kaz-group.com
ASX Announcement
30 June 2004
KAZ acquires Challenger Superannuation Services
KAZ Group Limited (KAZ) today announces its subsidiary, Australian Administration Services Pty Limited (AAS) has acquired Challenger Superannuation Services Pty Limited (CSS), the superannuation administration arm of Challenger Financial Services Group Limited.
With annual revenue for the year ending 30 June, 2004 of \$8 million, CSS is a provider of superannuation administration services to the Australian corporate superannuation sector.
This acquisition further facilitates AAS' expansion into the corporate superannuation sector and delivers additional economies of scale to the business.
Consideration for the acquisition will be funded out of existing cash reserves and facilities.
For further information please contact:
Investor inquiries: John Morris Company Secretary KAZ Group Limited Phone: (02) 8263 2900 E-mail: [email protected] Media/Analyst inquiries:
Kevin Ryder General Manager Group Marketing & Communications KAZ Group Limited Phone: (02) 8263 2900 Mobile: 0421 384 585 E-mail: [email protected]