Challenger to expand with new Colony

CHALLENGER Financial Services has entered into a strategic relationship with Colony Capital, a United States based private real estate investment firm.

Challenger said the relationship will develop opportunities in the US, Europe and Asia across shared core capabilities, including real-estate and infrastructure.

As part of this relationship, Colony will buy an option of over 57.1 million Challenger ordinary shares, exercisable over a five year period at $7 per share.

Colony will pay $64 million for the grant of the option.

Australian Property Journal