ANZ conducts due diligence
(18 August 2010 – Australia) Australia and New Zealand Banking Group has revealed it has begun conducting due diligence on the Korea Exchange Bank.
ANZ said in a statement earlier this week that the participation in the KEB sale process was part of the bank's examination of strategic growth opportunities.
The bank highlighted that it would only buy a stake in KEB if it satisfied ANZ’s disciplined internal criteria, including anticipated shareholder value accretion within the short to medium term.
ANZ said the outcome of the sale process was subject to considerable uncertainty and it was not appropriate to comment further at this stage.
The bank highlighted that it would only buy a stake in KEB if it satisfied ANZ’s disciplined internal criteria, including anticipated shareholder value accretion within the short to medium term.
ANZ said the outcome of the sale process was subject to considerable uncertainty and it was not appropriate to comment further at this stage.
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