Add-on Acquisition • Financial Services

Bank Of Queensland Acquires Virgin Money Pty

On April 30, 2013, Bank Of Queensland acquired financial services company Virgin Money Pty for 40M USD

Acquisition Context
  • This is Bank Of Queensland’s 5th transaction in the Financial Services sector.
  • This is Bank Of Queensland’s 4th largest (disclosed) transaction.
  • This is Bank Of Queensland’s 5th transaction in Australia.

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M&A Deal Summary

Date April 30, 2013
Target Virgin Money Pty
Sector Financial Services
Buyer(s) Bank Of Queensland
Deal Type Add-on Acquisition
Deal Value 40M USD

Target Company

Virgin Money Pty

Sydney, Australia
Virgin Money (Australia) Pty Ltd (VMA), provides retail financial services.
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Buyer Overview 1

Buyer

Bank Of Queensland

Newstead, Australia

Category Company
Founded 1874
Sector Financial Services
Employees3,105
Revenue 1.6B AUD (2024)
DESCRIPTION

Bank Of Queensland a regional bank provides full range of personal banking services. Bank of Queensland was founded in 1874 and is based in Newstead, Australia.


Deal Context for Buyer #
Overall 6 of 7
Sector: Financial Services 5 of 6
Type: Add-on Acquisition 4 of 5
Country: Australia 5 of 6
Year: 2013 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-01 St Andrew s Australia

Perth, Australia

St Andrew's is a manufacturer of consumer credit insurance products with a solid history of partnering with financial institutions to deliver insurance solutions.

Buy $45M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-31 Investec Bank

Sydney, Australia

Investec Bank (Australia) Ltd. is a distinctive Specialist Bank and Asset Manager .

Buy $440M