Westpac purchase
NgPA-AAP Sydney Westpac Banking Corp has reached agreement to buy fiym the Bank of Tokyo the remaining shareholding in Partnership Pacific, Ltd, Australia’s largest merchant bank, with assets of $ Aust 1.34 billion. ■Westpac said agreement was reached in principle and the purchase price would be based oru a valuation by Baring Brothers of the 40 per cent stake held by the Bank of Tqkyo in Partnership Pacific. ■Westpac expects Partnership Pacific to become a full Westpat subsidiary. Westpac's managing director, Mr Bob White, said Westpac’s merchant banking division would be merged into Partnership Pacific.
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Bibliographic details
Press, 23 October 1984, Page 38
Word Count
96Westpac purchase Press, 23 October 1984, Page 38
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