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Westpac to sell Hastings fund management business to UK firm

Westpac to sell Hastings fund management business to UK firm
November 3, 2017

LONDON (Reuters) - Westpac Banking Corp 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.