ANZ Group sells 16.5% stake in AMMB Holdings for RM3.85/share, reducing its AmBank shareholding to 5.2%.

Australia's ANZ Group has agreed to sell a 16.5% stake in Malaysian lender AMMB Holdings for RM3.85 ($0.8134) per share, reducing its shareholding in AmBank to 5.2% from 21.7%. The sale is in line with ANZ's strategy of simplifying its business and aims to boost its return on equity. The transaction, anticipated to take place on March 8, is expected to increase ANZ's CET1 ratio by approximately 16 basis points without impacting profits.

March 05, 2024
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