ANZ seen to bid for entire KEB stake

Nomura “would be surprised” if ANZ is not considering making takeover bid after lender raises $1.6mln.

Talk of ANZ raising equity for the deal, first revealed by The Australian, is growing, with Goldman Sachs analyst Ben Koo also telling clients on Wednesday that ANZ could raise $1bn, despite having sufficient capital to keep its tier-one capital ratio, which stands at 10.3 per cent.

ANZ is conducting due diligence on a 57 per cent stake in KEB owned by US private equity firm Lone Star and Export Import Bank of Korea, after confirming its interest in August.

Nomura analyst Victor German said the Japanese investment bank expects ANZ to raise $1.6bn, and “would be surprised” if ANZ is not considering making a full bid for 100 per cent of KEB.

His equity calculations are based on an acquisition price of 1 times price-to-book value.

“Under the new Basel III rules, ANZ would need to raise about $1.6bn for a 57 per cent stake and about $3bn for a 100 per cent stake,” Mr German said.

“If ANZ is successful, we believe it would look to increase its stake over time.

View the full story in The Australian.

Follow the link for more news on

Also Read

Mizuho allots $12.95b to finance hydrogen production

Mizuho’s net income climbs 22% to $4.39b in FY2023

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit