Australia's ANZ Bank mulls purchasing stake of Korean bank

17:02, August 16, 2010      

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Australia & New Zealand Banking Group (ANZ) on Monday announced the bank is conducting due diligence on Korea Exchange Bank (KEB), with a view to being a buyer when a 57 percent stake is sold.

ANZ said that participation in the KEB sale process was part of ANZ's examination of strategic growth opportunities.

In a brief statement, Melbourne-based ANZ said it would only go ahead with a deal if it satisfies ANZ's strict criteria.

"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 a statement.

Based on Monday's closing prices, the 57.27 percent stake is worth about 3.8 billion U.S. dollars.

Source:Xinhua

(Editor:黄蓓蓓)

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