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Commonwealth Bank of Australia to acquire remaining stake in Aussie Home Loans

Commonwealth Bank of Australia will acquire the remaining 20% stake in its partly-owned subsidiary, Aussie Home Loans.

Aussie Home Loans Chairman John Symond on Aug. 4 exercised his put option that allowed the bank to absorb the remaining stake it does not own yet, according to the lender's annual report.

The purchase price will be determined in line with the terms of the agreement made in 2012, with the purchase consideration to be paid in the issue of the lender's shares.

The acquisition is expected to be completed in late August.