Australia and New Zealand Banking Group Ltd. (ANZ) announced today that it is participating in a due diligence process in relation to the potential sale of a 57.27% shareholding in Korea Exchange Bank (KEB).
Through a notice to the stock exchange, ANZ announced that their participation in the KEB sale process is part of a continuing examination of potential strategic growth opportunities.
And that they would only proceed with a transaction if it satisfied ANZ’s disciplined criteria including an anticipation of shareholder value accretion within the short to medium term.
“The eventual outcome of the KEB sale process is subject to considerable uncertainty and it isn’t appropriate to comment further at this time,” ANZ said in the statement.
It was reported last Thursday, that MBK Partners’ bid had failed, and ANZ remained the only potential acquirer.
Source: Announcement to the stock exchange
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