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.
Neighbourhood Watch Week will start with a sizzle — a sausage sizzle to be precise — at Sevens Creek Dve in Kialla.
Victoria State Emergency Service (SES) and other emergency services are preparing for the next round of wild weather in the north-east.
It was clear blue skies last Tuesday for the official launch of the Gargarro (pronounced Ga-gar-ro) Botanic Gardens in Girgarre.
SNAKES will be coming out of hiding as the weather warms up.
KATH Bubb has been recognised for 50 years of service with the Ballendella Red Cross.
IT EXPERTISE in Kyabram has received recognition after Advance Computing won a Microsoft Australia Partner Award in the excellence in regional area customer category.
Seymour A and B-grade in season decider
Extensive rainfall in the Southern Riverina is having a negative impact on farming.
McIvor Creek – in and around Heathcote – has gone over its banks with all our recent rain, flooding streets and causing closures and detours.
Yarroweyah's Katie Anderson will be heading to Wisconsin in the United States after winning the Dairy Youth Travel Scholarship.
After a 30-year career as an accountant in Deniliquin, Peter Skipworth officially retires today.
Tuesday, August 16
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