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ANZ finalises Vietnamese investment

ANZ finalises Vietnamese investment

(17 September 2007 – Vietnam) ANZ has finalised its investment in Vietnam’s Saigon Securities Incorporation (SSI), purchasing a 10 percent stake in the company. The completed transaction, following shareholder and regulatory approvals, came at a cost of A$107 million to ANZ.

Mr Gilles Plante, joint managing director of ANZ’s Markets business has been nominated to join the SSI board.

Upon first announcement of the planned purchased in July 2007, Dr Bob Edgar, senior managing director ANZ, said the bank would target Vietnam’s rapidly growing financial services market in partnership with SSI.

SSI is the leading securities and investment banking company in Vietnam and is listed on the Hanoi Securities Trading Centre.
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