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.
Councillors have formally supported the proposed Shepparton bypass and endorsed combining two early stages to try maximise the project’s chances for securing funding.
More than 800 golfers throughout Australia converged on Yarrawonga Mulwala Golf Club Resort's five-day 2016 May Tournament from Monday to Friday last week.
The Aboriginal and wider community is mourning the death of revered Bangerang Aboriginal elder, Uncle John ‘‘Sandy’’ Atkinson.
BRIGHT and sunny weather made for perfect conditions for Rochester Hotel’s inaugural Motors and Music Fest on Saturday, May 7.
ROCHESTER and Elmore District Health Services is now $12,000 richer and management can’t wait to spend it.
Former AFL star and Bali bombing survivor Jason McCartney is the guest speaker for Kyabram's Sportstar of the Year event.
Cole, Clifton in final squad
Berrigan Shire councillor Daryll Morris says he has been sickened by some of the vitriol and personal attacks to surface since the council’s proposal to redevelop Finley’s Memorial Hall and School of Arts site was revealed in October last year.
A WINTRY day was turned to spring on Friday when the mums and students of Holy Rosary Primary School hosted the school’s annual Mother’s Day luncheon.
Students at Cobram Primary School were raring to go for the last day of NAPLAN testing last week after tucking in to a special breakfast provided by the school’s Parents and Friends Committee.
Plans for the release of a carp herpes virus has captured the attention of international press.
Farmers from northern Victoria will join a protest rally over milk prices in Melbourne tomorrow, Wednesday.
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