SYDNEY - Customers, an Australian technology company, agreed to buy about 700 automated teller machines throughout Australia from St George Bank for A$38 million ($41 million). Customers stock rose as much as 24 per cent to 14Ac.
St George's ATM network generates more than 20 million transactions a year, Customers said.
The Sydney-based company aims to become the leading supplier of electronic payment systems in Australia, according to its Web site.
St George, Australia's fifth-biggest bank, said it expects to book a pretax profit of A$26.6 million from the sale. The Sydney-based lender has risen 30.1 per cent this year to close yesterday at A$25.49, the second-best performer in the eight-member S&P/ASX 200 Banks Index.
- BLOOMBERG
St George sells ATMs
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