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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
$38.48 |
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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| Last trade - 16.18pm 12/09/2025 (20 minute delay) ? |
| WBC (ASX) Chart |