Finance group in takeover

The Commerce Commission has received a clearance application from Latitude Group Holdings to acquire Humm Group’s consumer-finance business.

Both companies are global suppliers of consumer-finance products including credit cards and instalment payment products such as “buy now, pay later” products.

Latitude operates in New Zealand, Australia, Singapore and Canada. In this country, its main products are instalment payment products, such as Gem Visa, which is a credit card with instalment capability, Genoapay and personal loans.

Humm operates here, across the Tasman, in Ireland, the UK and Canada. In New Zealand, its main products are credit cards, such as Q Mastercard, Farmers Mastercard and Flight Centre Mastercard and instalment payment products. 

Both companies are listed on the Australian Securities Exchange. Public versions of clearance applications are available on the commission’s case register.