Westpac Banking Corporation · ASX:WBC
Westpac Banking — Merger or Acquisition (October 2007)
5 slides from Westpac Banking's merger presentation, Oct 2, 2007
Slide 1: Agreement with RAMS
For personal use only Agreement with RAMS David Morgan Chief Executive Officer October 2007 Another step in Westpac’s growth path • Westpac has reached agreement with RAMS to acquire the brand and franchise assets of RAMS for a consideration of $140m • Westpac has moved quickly to put this agreement
Slide 2: The agreement with RAMS has 3 components
The agreement with RAMS has 3 components Immediate support Acquisition of certain Supporting existing for business assets mortgage portfolio continuity For personal use only • RAMS brand and • Provision of funding to • Assistance in refinancing franchise assets cover all loans settled US Extendible
Slide 3: Providing funding support to RAMS
Providing funding support to RAMS Support for existing mortgage Funding for new lending portfolio • Westpac to fund loans settled from • US Extendible Commercial Paper For personal use only 15 November 2007 until program to mature in Q1 2008 transaction completion • Provision of up to $1.5 billion a
Slide 4: Benefits for employees and franchisees
Benefits for employees and franchisees • Minimal disruption for employees – including retention of key management For personal use only • Greg Kolivos retained as CEO • Ongoing operation of successful distribution franchise under existing brand and premises • Certainty for franchisees and their empl
Slide 5: Another step in Westpac’s growth path
Another step in Westpac’s growth path • Consistent with Westpac’s strategy – core markets, core business • Limited upfront investment and structured to gain access to targeted assets For personal use only • Strong positive NPV with significant long term growth, small EPS dilution (<1% in year 1) • E
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