OSB/Charter Court merger makes funding sense

OneSavings Bank (OSB) and Charter Court Financial Services (CCFS) are in talks for an all-share merger, which the lenders hope will diversify their funding sources and strengthen product distribution. Under the terms of the deal, OSB shareholders would own 55 per cent of the enlarged group’s share capital, with the buy-to-let specialist’s chief executive, Andy Goulding, taking the helm. Charter Court shareholders would receive 0.8253 new OSB shares for each Charter Court share.