TAL is to acquire a 15.1% interest in Challenger Limited, subject to regulatory approvals.
TAL states it recognises the evolving needs of Australia’s ageing population and a shareholding in Challenger adds to its long-term commitment to the growing retirement sector.
TAL’s CEO, Fiona Macgregor, said: “There is an important community need to address with five million Australians currently in or preparing for retirement.
“Our minority investment in Challenger is an extension of our commitment to supporting Australians’ financial needs during retirement.”
