July 26 (Reuters) - Australia and New Zealand Banking Group Ltd (ANZ) said on Thursday it entered a term sheet to transfer an 82 percent stake in its pensions unit (P&I) and ownership of its aligned dealer groups (ADG) to wealth manager IOOF Holdings Ltd (IFL)
The deal is to take effect from October 1 and the lender will receive an initial payment of A$800 million ($596.40 million).
ANZ announced the sale of the P&I and ADG businesses to IOOF in mid-October 2017. ($1 = 1.3414 Australian dollars)
News: IFL Australia's ANZ to sell majority stake in pensions business for initial $596 mln
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Last
$3.63 |
Change
-0.040(1.09%) |
Mkt cap ! $2.434B | |||
| Open | High | Low | Value | Volume |
| $3.65 | $3.68 | $3.57 | $4.512M | 1.240M |
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| No. | Vol. | Price($) |
|---|---|---|
| 4 | 19535 | $3.62 |
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|---|---|---|
| $3.64 | 3446 | 1 |
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| IFL (ASX) Chart |