Australian lender Westpac to sell 9.5% stake in Pendal for $128m

Australian lender Westpac to sell 9.5% stake in Pendal for $128m

FILE PHOTO: Pedestrians hold umbrellas as they walk past a branch of the Westpac Banking Corp in central Sydney, Australia, March 30, 2017. REUTERS/David Gray/File Photo

Westpac Banking Corp said on Thursday it has agreed to sell its remaining 9.5% stake in fund operator Pendal Group Ltd to institutional investors for about A$185.4 million ($128 million).

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