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.
Volunteers take to the road to deliver Meals on Wheels to elderly and disabled in Shepparton.
The 2016 Shepparton BMW Senior Victorian Open, hosted jointly by Black Bull Golf Course and the Yarrawonga Mulwala Golf Club Resort in February, has been named the Victorian Legends Pro Am of the Year for 2016.
The Aboriginal and wider community is mourning the death of revered Bangerang Aboriginal elder, Uncle John ‘‘Sandy’’ Atkinson.
BUNNALOO author Fleur Ferris has won two awards for her first novel Risk
NANNEELLA’S night of music and family fun went off with a bang last weekend.
FURTHER demolition of Kyabram P-12 College’s A-wing building began on Monday.
Avenel win over Nagambie to take top spot
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.
PETER Maine has been re-elected as president of Heathcote Tourism and Development, with the region facing an exciting 12 months ahead.
It is renowned for using its manpower to help rebuild fences, clean up after fires and floods and offer relief during drought, but now BlazeAid has turned its attention to the dairy crisis
At 77 years of age, popular local golfer Paul ‘Tango’ has claimed his second hole-in-one.
Tuesday, August 16
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