BRISBANE, Australia: Bank of Queensland Limited (BOQ) announced the successful completion of the sale of its interest in St Andrew’s Insurance to Farmcove Investment Holdings. On 14 October 2020, BOQ announced that it had entered into an agreement with Farmcove to sell St Andrew’s to Farmcove for proceeds of $23 million, subject to certain conditions,…
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Bank of Queensland to acquire 100% of ME Bank for $1.325 bn
BRISBANE: Bank of Queensland Limited (BOQ) has entered into an agreement to acquire 100% of Members Equity Bank Limited (ME Bank) for cash consideration of $1.325 billion, a news release said. The acquisition will be funded by an underwritten capital raising of $1.35 billion. Chairman Patrick Allaway stated, “Today’s announcement is another major step in…