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.
Businessmen, onesies, baked muffins, a professor and a baby made for a colourful ragtag army of Sheppartonians who made their way to the seat of democratic power in Melbourne yesterday.
Local kayaking athletes Brea Roadley and Kayla Whinray have continued making a splash in their sport on both a national and international level.
Tatura’s St Vincent de Paul Society has made a sizeable donation to Sacred Heart School community for 2015.
A touch of glitz and glamour will be the theme for St Mary’s Primary School’s annual parents and friends ball at The Mill tomorrow.
Campaspe Valley Community Centre played host to Audrey Hepburn, Little Red Riding Hood, Napoleon Dynamite and even the Titanic recently.
Jackson Gentle beats younger sibling Cooper in thrilling Parkland decider
What will it take for politicians to start taking Nagambie's case for an ambulance seriously?
Record cattle prices were recorded at the Finley Saleyards on Friday
Heathcote has finally been topped as the animal collision capital of Victoria.
Cobram’s Tokemata Retreat has received recognition from a global tourism site, receiving a TripAdvisor Certificate of Excellence award.
Deniliquin Fire Station will be open from 10am to 2pm tomorrow and families are encouraged to come along and meet their local firefighters and learn more about fire prevention.
There may never be a solution to the Murray-Darling Basin and managing its water — Australia’s greatest natural asset.
Victorian Greens Leader Greg Barber tells The Ensign, producers should oppose the sale of the long term lease of the Port by the Andrews Government.
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