ANZ’s sale of AmBank on track
(26 April 2016 – Australia) ANZ Bank may have found buyers for its A$1.4 billion holding in Malaysia’s AmBank sources have said.
The Australian bank is seeking to divest itself from the Asian lender following controversy involving the Malaysian Prime Minister.
According to a Malaysian newspaper, US private equity firm TPG is one of “several” funds eyeing ANZ Bank’s 23.8 per cent stake.
In a statement, ANZ Bank told reporters: “We don’t comment on speculation about our minority Asian investments,” he said, referring to ANZ’s $5.4bn of “partnerships”, or equity stakes, in a handful of banks including AmBank.
Additionally, the bank has been on the hunt for a buyer for its 39 percent stake in Indonesia’s Panin Bank, however its chief executive, Shayne Elliott has reportedly told a business function in Melbourne that efforts were “not so active”.
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