westpac banking corp (WEBNF) Key Developments
FlexiGroup May Not Remain In Race To Buy GE Assets
Nov 25 14
FlexiGroup Limited (ASX:FXL) may not remain in the race to buy General Electric Capital Corporation's AUD 7.5 billion-plus Australian and New Zealand consumer lending business. Potential suitors have begun digesting the details in the information memorandum for the GE business and have found it could be more profitable than originally thought. Based on a sale struck on a multiple of eight times earnings, a cheque of about AUD 2 billion would need to be written, almost double original estimates. So it is hard to see how FlexiGroup could make a deal work, sources say.Macquarie Group Limited (ASX:MQG) has been in talks about forming a consortium with Pepper Group and York Capital, but the latest expectation is that perhaps The Blackstone Group L.P. (NYSE:BX) could join with Macquarie or even TPG Capital, L.P., while Pepper Australia Pty Ltd. may not be part of the cluster. Other potential bidders are Wesfarmers, KKR & Co. L.P. (NYSE:KKR), Westpac Banking Corporation (ASX:WBC), and for the New Zealand assets only, Heartland Bank Limited.
Westpac Banking Corporation Announces Management Changes, Effective from 1 February 2015
Nov 12 14
The Chairman of Westpac Banking Corporation, Lindsay Maxsted, announced that Gail Kelly has decided to retire as Chief Executive Officer on February 01, 2015. The Westpac Board has appointed Brian Hartzer to succeed Mrs. Kelly as the Group's CEO. Mr. Hartzer is currently Chief Executive, Australian Financial Services, responsible for the Westpac Group's retail, business banking and wealth businesses, including Westpac Retail & Business Banking, St.George Banking Group and BT Financial Group.
Westpac Banking Corporation Appoints Donna Astbury as Regional General Manager, Commercial Banking Northern Queensland
Nov 12 14
Westpac Banking Corporation announced the appointment of Donna Astbury as its Regional General Manager, Commercial Banking Northern Queensland. She will be responsible for the Westpac's commercial banking presence in the Townsville, Cairns and Mackay regions.
Westpac And Macquarie Ahead In Race To Buy GE Capital's Australian Business
Nov 5 14
Westpac Banking Corporation (ASX:WBC) and Macquarie Group Limited (ASX:MQG) are likely frontrunners to buy General Electric Company (NYSE:GE) Australian consumer lending business. he The Blackstone Group L.P. (NYSE:BX), Commonwealth Bank of Australia (ASX:CBA), National Australia Bank Limited (ASX:NAB), Australia and New Zealand Banking Group Limited (ASX:ANZ) and Pepper Australia Pty Ltd may also be in the final mix, as per sources.
Westpac Banking Corporation Declares Final Fully Franked Dividend Payable on December 19, 2014
Nov 3 14
Westpac Banking Corporation announced final fully franked dividend of 92 cents per share taking total dividends paid for the year to 182 cps, up 5%. The ex-dividend date for the final dividend is November 10, 2014. The record date is November 12, 2014. The dividend is payable on December 19, 2014.