Victorian Government agribusiness lender Rural Finance Corporation will be bought by Bendigo and Adelaide Bank for $1.78 billion.May 5, 2014 11:00am
Victorian Government agribusiness lender Rural Finance Corporation will be bought by Bendigo and Adelaide Bank for $1.78
Treasurer Michael O’Brien said the asset sale was being made as part of a federal incentive to states to sell assets and fund new infrastructure.
The sale, expected to net a return of about $400
Funds from the sale would go towards building infrastructure in rural and regional Victoria, including the Murray Basin rail project, which will extend the rail line from Mildura to Geelong.
Under the deal, staff jobs will be guaranteed for three years.
Bendigo and Adelaide Bank said the purchase price was about $1.78
It said it would maintain the brand and its 11 locations across Victoria.
Bendigo and Adelaide Bank managing director Mike Hurst said Rural Finance would work with the bank’s existing specialist agricultural business, Rural Bank.
The Victorian Government has also said it will go ahead with a medium-term lease of the Port of Melbourne.
Coca-Cola Amatil has confirmed it will be pressing on with its $100 million redevelopment of SPC Ardmona.
Beautiful weather greeted Tungamah residents for the 18th running of the Tungamah Lions Ten Thousand on Sunday.
When Keith and Marion Grumley and their growing family moved to Tatura on January 18, 1968, little did they know that it would be the start of a long and lasting connection to the town.
Mary and Molly Byrne are urging others to support National Bandanna Day today.
Rochester Rotary Club has celebrated its 50th birthday in style.
Sorting future of Campaspe pools
A theatre production with a difference is coming to Seymour.
Local athletes will go head-to-head with some of the best competitors from around the world in swimming and athletics in December.
District residents and visitors will be able to enjoy some of the region’s most beautiful private gardens on Sunday.
The 116th annual Cobram Show went off with a bang at the weekend, drawing in crowds from far and wide for two days of fun.
The annual Deniliquin Garage and Town Sale event is being held tomorrow, and more than 16 homes are registered for the bargain day.
Fifty new full-time jobs will be created at Tatura with a multimillion-dollar expansion of the abattoirs expected to be announced today.
Remembering Australian political giant Gough Whitlam who once called on Benalla police to stop then Treasurer Frank Crean on his journey up the Hume to phone the PM.
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