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Westpac selling BT stake

Tuesday 16th of June 2015

Westpac is planning to sell, through a share offer, part of its stake in BT Investment Management. Currently it owns 59% of the firm and this will fall to between 31 and 40%, it says in a stock exchange announcement.

The sale is expected to raise between A$600 million and A$700 million.

Westpac Group CFO, Peter King says the deal "allows the Group to realise a part of the investme...

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