Westpac In Talks With Charter Hall On Proposed Sale Of Hastings

(RTTNews) - Westpac Banking Corp. (WBC.AX, WBK) and Charter Hall Group (CHC.AX) have entered into exclusive discussions regarding Westpac's proposed sale of Hastings Management Proprietary Limited.

Hastings is a global infrastructure real assets business which has operated for over 22 years, headquartered in Australia with offices in Melbourne, Sydney, London, New York and Asia.

Hastings currently has Funds under Management of about $14.3 billion managed by about 100 professionals.

Any binding arrangements in relation to the proposed sale and purchase remain subject to completion of due diligence, regulatory and board approvals. A further update will be provided following the outcome of negotiations between the two parties, Westpac said.