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July 8th, 2007

City Pacific Acquires Mortgage Management Company (CIY.AX, 00737434, 20070709) (Aspect Huntley via Yahoo!7 Finance)

City Pacific has announced the acquisition of Australian Beneficial Finance. The purchase price of the business is structured on an “earn-out” basis spread over three years based on performance. ABF is a mortgage manager specialising in residential mortgage management, commercial and development funding Australia wide. City Pacific has also announced that the Group expects to post a record profit …

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