TSB Bank owners vote to approve $620 million sale to Heartland Group
Toi Foundation trustees have unanimously approved the merger of TSB Bank with Heartland Group in a $620 million deal announced in June.
The trustees of Toi Foundation, which owns TSB Bank, have voted unanimously in favour of selling the bank to Heartland Group. The $620 million transaction was announced in June and has now cleared a major hurdle towards completion. When finished, Toi Foundation will become Heartland Group's largest shareholder. Further regulatory consents are still required before the deal can be finalised.
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BusinessDesk
TSB Bank owners vote in favour of acquisition by Heartland Group
Heartland Group Holdings said the trustees of Toi Foundation have voted in favour of merging TSB Bank with Heartland Bank. The proposed $620 million transaction was announced in June.
interest.co.nz
Toi Foundation trustees approve TSB sale to Heartland
Heartland gets Toi Foundation's approval to buy TSB Bank. More consents are required, but when completed Toi Foundation will become Heartland Group's largest shareholder
RNZ
TSB bank merger with Heartland clears key hurdle
Heartland Bank Group's $620 million proposal to merge with TSB has taken a significant step forward, with the Taranaki-based bank's owner, Toi Foundation, voting to proceed with the deal.
BusinessDesk
Toi Foundation unanimous in vote to sell TSB Bank
Toi Foundation’s trustees all voted in favour of selling TSB Bank to Heartland Group Holdings, moving the $620 million transaction one key step closer to completion. The nine trustees voted unanimously on Wednesday, after opponents tried but failed to stop…