ANZ to sell 10 percent stake
(17 March 2010 – Asia) An executive at ANZ has said the bank is on the hunt for a buyer to take over its 10 percent stake in Vietnam’s Sacombank, Reuters reported.
ANZ is looking to sell its share in the local bank after gaining permission to operate as a fully foreign-owned bank in October 2008.
After Sacombank’s annual shareholder meeting earlier this week, Dang Van Thanh, chairman, confirmed that ANZ was looking for a buyer of its stake and Sacombank was working on the issue with ANZ.
Reuters reported that the bank’s chairman did not say who might buy the stake, however state-run media reported that a Singaporean bank could be picked.
After Sacombank’s annual shareholder meeting earlier this week, Dang Van Thanh, chairman, confirmed that ANZ was looking for a buyer of its stake and Sacombank was working on the issue with ANZ.
Reuters reported that the bank’s chairman did not say who might buy the stake, however state-run media reported that a Singaporean bank could be picked.
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