ANZ will start on-site due diligence on Korea Exchange Bank, its listed South Korean peer, next week, reported the Yonhap News.
The report cited financial sector sources as saying that ANZ is planning one month of working level due diligence and the Australia-based bank is believed to be looking to make a decision on the potential acquisition around October.
As reported, ANZ declared it would be participating in a due diligence process in relation to the potential sale of a 57.27% shareholding in Korea Exchange Bank, held by Texas-based Lone Star.
Source: Yonhap News (translated)
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