SYDNEY, July 24 (Reuters) - Westpac Banking Corp (WBC) on Monday said it has entered exclusive talks with Charter Hall Group (CHC) for the sale of its Hastings Funds Management unit.
Westpac did not specify a potential price for the sale. Westpac tried to sell the unit last year but withdrew from sale talks, citing market conditions. Analysts had expected Hastings to be sold for between A$300 million ($237.21 million) and A$500 million, a figure that is expected to be exceeded should talks with Charter Hall prove successful.
The potential deal comes as Australian banks are selling down capital intensive or low-returning assets.
Hastings Fund Management specialises in the acquisition and management of infrastructure, property, alternative debt and private equity. ($1 = 1.2647 Australian dollars)
SYDNEY, July 24 (Reuters) - Westpac Banking Corp (WBC) on...
Add CHC (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$15.28 |
Change
-0.170(1.10%) |
Mkt cap ! $7.525B | |||
| Open | High | Low | Value | Volume |
| $15.71 | $15.71 | $15.26 | $12.38M | 806.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5210 | $15.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.29 | 405 | 1 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| CHC (ASX) Chart |
