Bouris nuts out YBR exit options
Yellow Brick Road "has attracted the attention of an offshore-based suitor", as well as a local financial upstart, the Financial Review reports in its Street Talk column.Street Talk says "preparations are in the early stages and sources said the suitor had not yet locked down funding or made an approach to Yellow Brick Road's board."It adds: "the interested party has been approaching local stockbroking firms and potential funders about a tilt," naming Blue Ocean Equities, and Apollo Global Management as being "among those approached to get involved in a potential move on Yellow Brick Road. 'The local party reported to be taking an interest is Squirrel.After years of losses since start-up, YBR produced a net profit of A$1 million in the year to June 2017, which compares with a loss of $9.5 million in the year to June 2016. The underlying loan book increased to $44 billion, split between its own YBR brand and the Vow business acquired two years ago.