ANZ in Deal to Sell AmBank Stake for US$900 Million
Australia and New Zealand Banking Group is near a deal to sell its Malaysian banking stake to a pension fund and exit Malaysia. The transaction could be potentially worth around US$900 million.
“ANZ has been pursuing a sale of its 24 percent stake in its Malaysian affiliate AMMB Holdings (AmBank) since early last year.”
ANZ has been pursuing a sale of its 24 percent stake in its Malaysian affiliate AMMB Holdings (AmBank) since early last year as part of a strategy to divest minority stakes in Asia.
The Australia and New Zealand Banking Group Limited (ASX:ANZ) first opened as the Bank of Australasia in Sydney in 1835 and in Melbourne from 1838. Its history involves many different bank prior to the merger of the Bank of Australia with the Union Bank of Australia Limited on 1 October 1951. Today, it provides a range of banking and financial products and services to over 9 million customers in 34 countries in Australia, New Zealand, throughout Asia and the Pacific, and in the Middle East, Europe, and America.
- Origin : Melbourne, Australia
- Assets : $ 889.90 billion
- Revenue : $ 36.98 billion
- Employees : 50,152
Official Website: www.anz.com
News & Media: Press Release
Updated on 8th August 2016
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