Briefs: Investec extends bid deadline, NAB merged asset management businesses
Investec Bank (Australia), which put its professional finance and asset finance and leasing divisions on the market last November, has extended the sale deadline at the request of bidders, according to the Australian Financial Review. Investec is transforming its business into one based on investment banking activities. Professional finance has assets of around A$2.3 billion and asset finance has assets of about $140 million. ANZ, Bank of Queensland and Bendigo and Adelaide Bank are the final bidders, according to the AFR.National Australia Bank will merge its asset management and consulting businesses, according to the AFR. JANA and MLC Investment Consulting will be merged to boost the bank's strength in an increasingly competitive market. The business will be called JANA.