BOQ up for potential acquisition
(30 March 2010 – Australia) The Bank of Queensland announced yesterday that it had signed an exclusivity agreement to conduct due diligence for the potential purchase of CIT Group Australia and New Zealand’s vendor finance business.
The bank said in a statement that the due diligence has significantly progressed, however is still incomplete and there is no guarantee a transaction will occur.
BoQ went on to say, that as a result the bank is not in a position to announce any transaction to the market.
The bank's shares were placed on a trading halt ahead of the announcement.
BoQ went on to say, that as a result the bank is not in a position to announce any transaction to the market.
The bank's shares were placed on a trading halt ahead of the announcement.
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