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Fox Corp. buys majority stake in Credible Labs

Fox Corp. completed its previously announced acquisition of a 67% stake of Credible Labs Inc., a San Francisco-based consumer finance marketplace operator.

Shares of Credible were suspended from trading on the Australian Stock Exchange on Oct. 16, and Credible will be delisted from the ASX on Oct. 18. Each Credible CDI holder of record at closing is entitled to receive A$2.21 in cash per CDI, and each common stockholder is entitled to receive A$55.25 per share.

Credible's financial platform allows consumers to compare rates from various financial institutions for mortgages and personal or student loans.

Kirkland & Ellis LLP and Herbert Smith Freehills served as Fox Corp.'s U.S. and Australian legal counsel, respectively.