Dec 7 (Reuters) - Westpac Banking Corp WBC.AX :
* WESTPAC SELLS PACIFIC BUSINESSES-WBC.AX
* SALE PRICE IS MADE UP OF $315 MILLION
* DEAL FOR UP TO $420 MILLION.
* SEES ACCOUNTING LOSS ON SALE OF ABOUT $230 MILLION
* SALE PRICE IS MADE UP OF $315 MILLION PAYABLE AT COMPLETION & $60 MILLION TO BE PAID SIX-MONTHLY OVER FOLLOWING 18 MONTHS FOR WESTPAC PNG
* COMPLETION IS EXPECTED TO OCCUR IN SECOND HALF OF FY2021
* ANNOUNCES SALE OF PACIFIC BUSINESSES TO KINA SECURITIES
* SALE WILL ADD ABOUT 3 BPS TO WESTPAC'S COMMON EQUITY TIER 1 CAPITAL RATIO
* SALE PRICE ALSO INCLUDES EARN-OUT PAYMENTS OF UP TO $45 MILLION, SCHEDULED TO OCCUR ANNUALLY OVER 24 MONTHS POST COMPLETION