Finance groups ditch merger
Regulator closes case after Latitude and Humm decide to abandon takeover deal.
Posted on 21 June, 2022
The Commerce Commission has announced that Latitude Group Holdings has formally withdrawn its application for clearance to acquire Humm Group’s consumer finance business.
The regulator was due to make its decision on the deal between the two global suppliers of consumer-finance products by August 11.
Latitude operates in New Zealand, Australia, Singapore and Canada, while Humm operates here and in Australia, as well as in Ireland, the UK and Canada.
Latitude initially sought clearance from the commission for the deal between the companies in April, but the businesses revealed on June 17 they had cancelled the merger plans.
