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CPH and Challenger propose merger


Monday 20th January 2003

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Kerry Packer-backed Challenger International Ltd and CPH Investment Corp today announced a proposed scrip-based merger of the two entities.

The merged entity will have a market capitalisation of about $A930 million ($NZ1 billion), "making it a significant entity on the Australian Stock Exchange", the companies said in an announcement.

In a separate announcement, CPH announced the appointment of Chris Cuffe as its new chief executive officer.

Mr Cuffe was former chief executive officer of Colonial First State's Australian funds management operations.

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