ANZ close to selling AMMB stake for RM3.86bil

Flashback: Our report on July 6 which quoted Wan Kamaruzaman as saying that the size of the ANZ stake in the combined RHB-AMMB banking group fits the fund

PETALING JAYA: Australia and New Zealand Banking (ANZ) group is said to be near a deal to divest its block of shares in AMMB Holdings Bhd to the Retirement Fund Inc (KWAP) in a transaction that could be worth around US$900mil (RM3.86bil), Reuters reported.

The development confirms an earlier report by StarBiz that KWAP is keen on buying ANZ’s 24% stake in AMMB following its proposed merger with RHB Bank Bhd.