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Kina Securities buys Westpac Group’s Pacific businesses

Dentons has advised Kina Securities Limited on its purchase of Westpac Group’s Pacific businesses.

December 23, 2020 • By Emma Musgrave
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Kina Securities buys Westpac Group Pacific businesses
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Firm: Dentons (Kina Securities Limited).

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Deal: Kina Securities Limited (Kina Bank) has successfully acquired 100 per cent of Westpac’s branch operations and employees in Fiji and Westpac’s 89.91 per cent stake in Westpac - PNG - Limited, subject to regulatory approvals and other conditions precedent.

 
 

Value: $420 million.

Area: M&A.

Key players: The team advising Kina Bank was led by partner and head of Dentons’ Port Moresby office, Stephen Massa, supported by senior associate Rachel Austin.

Corporate partner Kym Livesley and managing associate Urvashi Seomangal advised on the ASX and PNGX aspects of the transaction.

Deal significance: This transaction follows on from Dentons acting for Kina Bank earlier this year on its capital raising on the ASX and PNGX.

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Commenting on the deal, Mr Massa said Dentons was proud to have worked on yet another deal that would further strengthen the economic opportunities for the Pacific region.

“Dentons has had a continued presence in Papua New Guinea for more than 50 years,” he said.

“We are delighted to have supported Kina Bank in this deal that will help continue to secure the prosperity for PNG and the Pacific more broadly.”

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Emma Musgrave

Emma Musgrave

Author

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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