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BREAKING NEWS

Westpac to sell Hastings fund management business to UK firm

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Westpac to sell Hastings fund management business to UK firm

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(Reuters) – Westpac Banking Corp <WBC.AX> on Friday said it had agreed to sell its Hastings fund management business to London-based asset manager Northill Capital. The terms of the deal are currently confidential, the bank said in a statement to the Australian Stock Exchange. Hastings currently manages about A$12.6 billion (7.41 billion pounds) in funds, the company said. ($1 = 1.3012 Australian dollars)

(Reporting by Ambar Warrick in Bengaluru; Editing by Himani Sarkar)
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