IOOF Holdings Ltd (IFL.AX)
15 Dec 2017
* plan aims to raise up to $100 million and is not underwritten Source text for Eikon: Further company coverage:
* announces successful completion of A$461 million institutional share placement
SYDNEY Australia and New Zealand Banking Group Ltd has sold its pension unit to IOOF Holdings for A$975 million ($766 million), joining the rush of Australian banks quitting non-core and scandal-hit divisions to boost capital.
* Deal falls short of expected exit and costs A$300 mln after-tax
* Deal for cash consideration of A$975m, subject to a completion adjustment
SYDNEY, Oct 17 Australia and New Zealand Banking Group Ltd said on Tuesday it is selling its pensions and investments business to IOOF Holdings in a A$975 million ($765 million) deal.
* Trading halt is requested pending an announcement in relation to a transaction and associated capital raising Source text for Eikon: Further company coverage:
* Expects to recognise a non-cash goodwill impairment charge of approximately $40 million for year ended 30 June 2017.
* Total FUMA as at June 30 totalled $115.0 billion Source text for Eikon: Further company coverage: