Acquiring Company
Heartland Group Holdings
Acquired Company
TSB
AucklandFinancial ServicesFinanceLendingBankingDescription
The Toi Foundation has decided to sell TSB to Heartland Group Holdings for $620 million. This merger will proceed as planned, pending regulatory and shareholder approval. The decision follows a dismissal of an offer from Kiwibank’s owner, Kiwi Group Capital. The acquisition is aimed to be completed by December.
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M&A Insights
Based on deal dataFrequently asked
Who acquired TSB?
TSB was acquired by Heartland Group Holdings, based in Auckland. The deal was reported on August 27, 2026. Heartland Group Holdings is a financial services group that focuses on providing a range of lending and banking products. It aims to serve customers with tailored solutions and innovative services. Heartland Group Holdings is privately held and operates in Financial Services.
When did Heartland Group Holdings acquire TSB?
Heartland Group Holdings's acquisition of TSB was reported on August 27, 2026. The Toi Foundation has decided to sell TSB to Heartland Group Holdings for $620 million. This merger will proceed as planned, pending regulatory and shareholder approval. The decision follows a dismissal of an offer from Kiwibank’s owner, Kiwi Group Capital. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does TSB do?
We’re 100% NZ owned and independent, and have been dedicated to helping New Zealanders achieve their goals since 1850. It is privately held.
This company was part of an acquisition. Fundz tracks who bought whom, and who to call on both sides.
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