9 Dec 2010

CBS depositers approve 'heartland bank' merger

12:44 pm on 9 December 2010

Southern Cross BS depositers have approved the proposed merger and Canterbury Building Society depositors vote on Friday.

The chief executive of Marac, Jeff Greenslade, says should those investors also consent to the deal, it remains only for regulators to approve.

He expects those approvals to be given by 16 December, so the new bank can be listed on the stock exchange on 31 January.