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BRIEF-Australia's Bank of Queensland buys Investec commercial arm
April 11, 2014 / 6:31 AM / 4 years ago

BRIEF-Australia's Bank of Queensland buys Investec commercial arm

April 11 (Reuters) -

* Investec plc - disposal

* Investec plc - sale of investec bank (australia) limited’s (ibal‘s) professional finance and asset finance and leasing businesses and deposit book

* Investec plc - confirms that it has entered into a definitive contract with boq to purchase ibal’s professional finance and asset finance and leasing businesses and its deposit book.

* Investec plc - consideration price has been agreed at an aud210 million premium to tangible net asset value (nav), for shares in ibal.

* Investec ltd - it is estimated that upon completion of sale and restructure, investec plc’s common equity tier 1 ratio will increase by approximately 1.5% to about 10.6%.

* Investec ltd - transaction is subject to regulatory approval. Further details will be provided when transaction becomes unconditional. Source text for Eikon: Further company coverage:

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