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E-Loan sold to Liquid

By Phil Boeyen, ShareChat Business News Editor

Wednesday 21st November 2001

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The Warehouse (NZSE: WHS) and e-Ventures (NZSE: EVZ) have sold their E-Loan business to financial services website Liquid.co.nz.

The deal includes a licensing agreement with E-Loan's US based parent company to continue to offer the brand in New Zealand.

Liquid says it will maintain E-Loan's current web site and provide access to it through its own portal.

Liquid MD, Peter Larsen, says the business is focussing on its strategy to provide a comprehensive range of financial services to customers who choose to manage their own financial requirements online.

"The licensing agreement means that Liquid customers can access E-Loan's award winning home loan and credit card information and comparison tools via the Liquid site. The tools have been developed to compare a broad range of lending options and allow customers to apply for a home loan or credit card directly online."

Mr Larsen says E-Loan will present independent mortgage information to site visitors alongside independent residential mortgage outlet Mike Pero Mortgages, a Liquid founding partner.

e-Ventures introduced the E-Loan concept to New Zealand last year and it was destined to become one of a number of internet ventures for the company before the tech slide shattered the company's online vision.

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