Computershare agrees to sell UK mortgage services arm to Pepper Advantage
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The news: Share registry business Computershare has agreed to sell its UK mortgage services business, Computershare Loan Services, to credit management and technology group Pepper Advantage.
The numbers: Computershare said the sale is not expected to impact its FY25 earnings guidance of 140 cents per share. The deal is set to result in a one-off statutory pre-tax loss on sale of £35 million to £40 million, reflecting foreign currency translation reserves and goodwill allocations.
The context: The sale agreement remains subject to customary closing conditions including regulatory approvals. Completion is expected to take place in the third quarter of FY26.
Computershare — best known for managing shareholder records and employee share plans — also runs a major UK mortgage servicing arm which administers more than £20 billion of mortgages on behalf of banks, investors and government bodies.
What they said: "We are pleased to announce the sale of our UK mortgage services business to Pepper Advantage, which represents an important milestone in Computershare's simplification strategy and ongoing drive to increase the quality and consistency of earnings," said Computershare CEO and president Stuart Irving.
"Pepper Advantage has strong mortgage industry credentials with the ability to bring capital to scale the business further, providing certainty for our customers."
The source: ASX
