SYDNEY, March 2 (Reuters) - Westpac Banking Corp (WBC), Australia's No.3 lender, on Wednesday said it was no longer in discussions for a potential sale of its Hastings Funds Management unit.
"For various reasons, including current external market conditions, Westpac and the relevant parties have elected to cease strategic conversations and due diligence with respect to a possible purchase of Hastings," the bank said in a statement to Reuters.
Hastings Fund Management specialises in the acquisition and management of infrastructure, property, alternative debt and private equity. Last year, it was the successful bidder for transmission network owner TransGrid.
Westpac would consider its options "carefully" while continuing to support Hastings, it said.
SYDNEY, March 2 (Reuters) - Westpac Banking Corp (WBC),...
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Last
$38.48 |
Change
0.530(1.40%) |
Mkt cap ! $131.6B | |||
| Open | High | Low | Value | Volume |
| $38.20 | $38.56 | $38.10 | $289.9M | 7.544M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 837 | $38.47 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.49 | 750 | 1 |
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