Westpac Banking Corporation
(ASX:WBC) and Charter Hall Group
(ASX:CHC) have entered into exclusive discussions regarding Westpac’s proposed sale of Hastings Management Proprietary Limited.
Hastings is a global infrastructure real assets business with $14.3 billion funds under management.
Charter Hall Group
(ASX:CHC) says the proposed purchase provides it with an attractive expansion opportunity across real assets funds management.
Westpac says any binding arrangement in relation to the proposed sale and purchase is subject is due diligence, regulatory and board approval.
Shares in Westpac Banking Corporation
(ASX:WBC) last traded 0.92 per cent lower to $32.42.
