Australia's Westpac to sell Hastings' UK, U.S. business to Northill

FILE PHOTO: Pedestrians hold umbrellas as they walk past a branch of the Westpac Banking Corp in central Sydney, Australia, March 30, 2017. REUTERS/David Gray/File Photo

(Reuters) - Westpac Banking Corp <WBC.AX> said on Wednesday its unit, Hastings Management Pty, will sell its international businesses managed out of the United Kingdom and United States to London-based asset manager Northill Capital.

Westpac said last month it would sell Hastings' fund management business to Northill without divulging the terms of the deal, in a move by a big Australian bank to offload a capital intensive division amid stiffer bank capital rules.

(Reporting by Susan Mathew in Bengaluru; Editing by Biju Dwarakanath)