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ANZ Bank nears deal to sell Malaysian banking stake to pension fund - sources

Reuters  |  KUALA LUMPUR/ABU DHABI 

By Liz Lee and Stanley CarvalhoKUALA LUMPUR/ABU DHABI (Reuters) - Australia and New Zealand Banking Group is near a deal to sell its Malaysian banking stake to a pension fund and exit the Southeast Asian nation, sources familiar with the matter said, in a transaction that could be worth around $900 million. ANZ has been pursuing a sale of its 24 percent stake in its Malaysian affiliate AMMB Holdings (AmBank) since early last year as part of a strategy to divest minority stakes in Asia and as AmBank was dragged into a wide-ranging corruption scandal at state fund 1MDB.In June, RHB Bank and ...

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First Published: Thu, July 13 2017. 13:02 IST
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