JF in Ord Minnett stake

JARDINE Fleming and the management of Ord Minnett have bought all the issued shares in Ord Minnett Group, a leading stock and futures broker in Australasia, held by Westpac Banking Corp Group.

The equity of the Ord Minnett Group will be held by Jardine Fleming Ord Minnett, a company 50 per cent owned by Jardine Fleming Australia and 50 per cent by Ord Minnett management and staff.