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Westpac mulls potential $10b Kiwi spin-off – Sydney Morning Herald
Westpac will assess whether a demerger of its New Zealand arm, which is thought to be worth more than $10 billion, would make sense for shareholders.
Westpac is considering a spin-off of its New Zealand bank in response to the countrys tougher capital requirements, a move that could create a separate business worth more than $10 billion.
As chief executive Peter King looks to simplify the countrys oldest lender, Westpac on Wednesday said it would assess whether a demerger of the Kiwi operations made sense for shareholders. It has appointed investment bankers from Macquarie to conduct the review, which is likely to attract attention from the market…
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