Pyne Gould Corporation has secured a stock exchange waiver to forego shareholder approval to acquire bank debt owed by its Epic infrastructure fund to assist a sell down of its assets.

BNZ will be back in the wealth management game in a big way if its parent company National Australia Bank’s surprise deal to buy Axa Asia Pacific goes through.

Earlier this week AMP and Paris-based Axa SA, which owns 53% of Axa Asia Pacific, boosted their offer for Axa Asia Pacific from A5.34 to A$6.22 per share, putting the company’s value at A$12.85 billion.

But NAB has come from nowhere with a bigger bid, announcing yesterday it had agreed to a deal to buy Axa Asia Pacific’s Australia and New Zealand assets for A$13.29 billion.

Transtasman consumer food company Goodman Fielder has raised $A500 million from a syndicated loan facility.

The dual-listed company (GFF) signalled the move at its annual results presentation, but announced the forward start loan today.

The company said its multi-currency, revolving loan facility was oversubscribed and the move effectively extended the maturity of the majority of its existing $A700 million syndicated loan facility by an additional two years.

JBWere, the private wealth management business of which Bank of New Zealand's parent is purchasing 80.1%, aims to grow in New Zealand.

National Australia Bank, NAB, the Australian parent of BNZ, has agreed to acquire 80.1 percent of Goldman Sachs JBWere's private wealth management business in Australia and New Zealand, which will be branded JBWere, with Goldman Sachs JBWere retaining the remaining 19.9%.

A BNZ spokesman said the bank welcomed the acquisition and would be working with NAB colleagues in the next few weeks to work out what it meant for New Zealand.

National Australia Bank is to buy an 80.1% stake in Goldman Sachs JBWere's private wealth management business in Australia and New Zealand for at least $99 million.

The private wealth business will be branded JBWere, with Goldman Sachs JBWere retaining the remaining 19.9%.

National Australia Bank will make an additional performance-related payment for JBWere depending on revenue generated by the business over a three year period.

JBWere has 22,000 active client relationships, assets under advice exceeding $38 billion, and funds under management of around $10 billion.

Possible tax back payments form part of the reason for Bank of New Zealand parent National Australia Bank’s plan to raise a further $A2.75 billion in capital.

NAB has announced a fully underwritten institutional placement of shares to raise $A2 billion to maintain balance sheet strength and "flexibility".

It will also offer a non-underwritten share purchase plan capped at $A750 million.

The institutional placement will increase the June 30 pro forma Tier 1 ratio position from about 8.2% to about 8.8%, the bank said.