Good evening,

Six years after Westpac buckled under scrutiny from the banking royal commission and gave away its financial advice business to Viridian Advisory, the Melbourne-based outfit is ready for an ownership shake-up.

Viridian is in advanced discussions to bring on a deep-pocketed strategic investor to help fund growth. A deal is expected to be agreed within weeks, and could value the business at well over $250 million.

Sources said Viridian’s internal team, led by chief executive Glenn Calder, has spoken to half a dozen private equity players over the past year. Private equity firms had been waiting for it to launch an auction via Berkshire Global Advisors, but it has swerved to bilateral discussions.

Read the full story tomorrow and more on the Street Talk page.

• India’s biggest steelmaker JSW picks at Whyalla’s carcass.
• The five Healthscope hospitals under the microscope.
• KKR signs off $1.2 billion MYOB refinancing, Big American enters debt stack.
• ETF Shares shops at rival for chief operating officer.
• Former deputy NAB CFO trades banking for law.

• Elders will need to sell stores to secure $475 million Delta Ag buyout.
• These firms will be the next targets, according to JPMorgan’s M&A boss.

Collapsed private hospital operator Healthscope operates 37 sites across Australia from Perth to Sydney, Darwin and Hobart.

The Australian sharemarket edged up to a three-month high on Thursday as energy stocks rallied, but largely shrugged off strong gains in US futures spurred by Nvidia.

Click here for the latest equity market wrap.