(9 September 2011 – Global) ANZ Bank has broken off talks to buy a stake in Japan’s Aozora Bank according to a source for The Sydney Morning Herald.The bank was in early-stage talks to buy private equity firm Cerberus Capital’s 50 percent stake in Aozora, but it is reported the two sides could not agree on some key terms.
ANZ declined to confirm the source’s comments but spokesman Paul Edwards said: ‘At present there are no formal discussions occurring on any opportunity in Japan.
‘ANZ looks at most opportunities in Asia which are consistent with its super-regional strategy. Most of these come to nothing at an early stage.’
‘Where we look at opportunities it is with a mindset that they must deliver shareholder value,’ he added.