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Westpac Banking Corp (ASX:WBC) has entered into an agreement to acquire Lloyds Banking Group’s Australian asset finance business, CFAL, and its corporate loan portfolio, BOSI, for $1.45 billion.
Westpac says the sale comes as Lloyds’ focuses on its United Kingdom business.
Westpac chief executive officer Gail Kelly said the acquisition will benefit shareholders and was a good strategic fit with the existing businesses of St George and Westpac Institutional Bank.
Ms Kelly says shareholders will see a benefit to earnings per share in fiscal 2014.
The deal is not subject to regulatory approvals and is expected to be completed on December 31.
Westpac delivered a net profit of $3.3 billion in the first half of fiscal 2013.
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Last
$38.50 |
Change
0.020(0.05%) |
Mkt cap ! $131.6B | |||
| Open | High | Low | Value | Volume |
| $38.40 | $38.51 | $38.27 | $9.352M | 243.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 827 | $38.49 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.51 | 1176 | 8 |
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| Last trade - 10.16am 15/09/2025 (20 minute delay) ? |
| WBC (ASX) Chart |