It turns out RAMS Home Loans’ 33-year-long history and well-recognised brand name haven’t been enough for potential buyers to take a bite.
“Westpac has concluded the sales process for its RAMS business without reaching a sales agreement,” a spokesperson said when contacted by this column. “Westpac will continue to operate RAMS and support RAMS franchisees and customers while it considers further strategic options for the business,” he added.
In tandem with the sale talks, RAMS is understood to have paid visits to credit funds to explore if it could get aWith neither potential buyers nor lenders showing interest in the business, RAMS’s fate looks tied to its current owner, which bought it during the GFC for $140 million or a quarter of what it was worth before its mid-2007 listing.
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Source: FinancialReview - 🏆 2. / 90 Read more »