Heartland Group Says Toi Foundation Restarts TSB Bank Sale Consultation

Heartland Group Holdings (ASX:HGH, NZE:HGH) said Toi Foundation has reopened its Taranaki community consultation on the proposed sale of TSB Bank after identifying an error in the original consultation timeframe, with the consultation restarting on Friday, according to a Thursday filing with the Australian and New Zealand bourses. The company said the proposed merger of Heartland Bank and TSB remains on track for completion in December, subject to approvals from the Toi Foundation trustees, who are expected to decide on the transaction in August, as well as shareholder and regulatory approvals, per the filing. The company has also delayed its special shareholder meeting pending trustee approval, the filing added.