Deals
ANZ Bank Studies KEB Books for Possible Acquisition
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Australia & New Zealand Banking Group Ltd. said it is reviewing the finances of Korea Exchange Bank, the lender put up for sale by Lone Star funds, as it weighs expansion in Asia’s fourth-largest economy.
An acquisition would have to add value for shareholders in “the short to medium term,” the Melbourne-based lender said in a statement today. The 57.3 percent stake in the Seoul-based bank is worth $3.8 billion at today’s prices.