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)
-
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$19.91 |
Change
0.380(1.95%) |
Mkt cap ! $9.417B | |||
| Open | High | Low | Value | Volume |
| $19.64 | $20.00 | $19.64 | $11.49M | 578.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 2346 | $19.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.99 | 775 | 2 |
View Market Depth
| Last trade - 16.10pm 28/07/2025 (20 minute delay) ? |
| CHC (ASX) Chart |