Brief: Westpac Says Terminates Pacific Sale Agreements With Kina Bank

Kina Securities

21/09/2021 23:18

Sept 22 (Reuters) - Westpac Banking Corp  WBC.AX :
    * TERMINATES PACIFIC SALE AGREEMENTS WITH KINA BANK
    * WESTPAC-DOES NOT ANTICIPATE PACIFIC BUSINESS WILL CONTINUE
TO BE
HELD FOR SALE AT FY21
    * ASSESSING WHETHER ANY OF PREVIOUSLY RECOGNISED IMPAIRMENTS
SHOULD BE REVERSED
    * WILL CONTINUE TO OPERATE THESE BUSINESSES AND SUPPORT ITS
PACIFIC CUSTOMERS
    * ASSESSING ALTERNATE EXIT OPTIONS IN LINE WITH ITS STRATEGY
TO
FOCUS ON BANKING
    * TERMINATIONS FOLLOW LAST WEEK'S DECISION BY PNG'S ICCC TO
DENY
AUTHORISATION FOR PROPOSED ACQUISITION

Source text for Eikon:  ID:nASXb2qpfx 
Further company coverage:  WBC.AX 

 ((Reuters.Briefs@thomsonreuters.com;))