Westpac has entered into exclusive discussions with property giant Charter Hall Group to sell its infrastructure investment business Hastings Management.

The financial details of the deal have not been disclosed and the companies, in a joint statement this morning, say the transaction is subject to due diligence as well as regulatory and board approvals.

Hastings manages global infrastructure equity and debt investing funds of around $14.3 billion, and boasts assets including NSW government's land registry business and electricity transmitter TransGrid.

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