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)
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Last
$19.98 |
Change
0.270(1.37%) |
Mkt cap ! $9.450B | |||
| Open | High | Low | Value | Volume |
| $20.31 | $20.50 | $19.97 | $27.35M | 1.362M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8532 | $19.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.00 | 4867 | 1 |
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| Last trade - 16.20pm 23/07/2025 (20 minute delay) ? |
| CHC (ASX) Chart |