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The all-stock deal valued St.George at A$18.6 billion (US$17.5 billion), or A$33.10 a share, a premium of 28.5% to the closing price of St.George shares on 9 May in Australia. St.George shareholders received 1.31 Westpac shares for each St.George share and owned 28.1% of the new entity.
The Advance Bank was an Australian bank that existed from 1985 until 1997, when it merged with St George Bank. [1] It is not related to Advance Bank AG of Germany (which was shut down by Allianz in 2003). It was established as the NSW Permanent Building & Investment Society in 1939.
The Bank of Melbourne is a financial institution operating in Victoria, Australia. A subsidiary of Westpac, it commenced operations on 25 July 2011. The Bank of Melbourne initially rebadged the Victorian business of St George Bank, another wholly owned subsidiary of Westpac, as part of a major local branding strategy. The customer-facing ...
St George County Council was a county council and publicly owned electricity supply utility in the St George area of southern Sydney, Australia. It supplied electricity to consumers in the Kogarah , Hurstville , Rockdale and Bexley Municipalities (Bexley merged with Rockdale in 1949).
Robert (Rob) Ian Chapman (born 1964) is an Australian businessman, former CEO of St George Bank and former chairman of the Adelaide Football Club [1] and currently chair of the board of Adelaide Airport. [2] He has previously been considered to be one of South Australia's most influential people. [3]
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The Savings Bank was on the verge of collapse prior to a bailout by the Government of South Australia, which was hastened by the 1991 Royal Commission Into The Organisation Of Public State Funds of South Australia. Advance Bank was purchased by St. George Bank in 1997 and the State Bank became part of the greater Westpac Corporation after the ...