BRIEF-ANZ Informed NZ's Overseas Investment Office Declined HNA's Application To Buy UDC Finance

Published 21/12/2017, 07:53 am
© Reuters.  BRIEF-ANZ Informed NZ's Overseas Investment Office Declined HNA's Application To Buy UDC Finance
ANZ
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Dec 21 (Reuters) - Australia And New Zealand Banking Group Ltd ANZ.AX :

* INFORMED THAT NEW ZEALAND'S OVERSEAS INVESTMENT OFFICE HAS DECLINED HNA GROUP'S APPLICATION TO ACQUIRE UDC FINANCE

* OIO DECISION HAS NO IMPACT ON RECENTLY ANNOUNCED $AUD1.5 BILLION ON-MARKET BUY BACK OF ANZ BANKING GROUP SHARES

* "WE DON'T KNOW IF HNA WILL ATTEMPT TO OVERTURN THE DECISION"

* "IF SALE DOES NOT PROCEED, WE'LL ASSESS OUR STRATEGIC OPTIONS REGARDING FUTURE OF UDC"

* IF TRANSACTION DOES NOT GO AHEAD, ANZ'S FY18 EARNINGS WILL NO LONGER BE ADJUSTED FOR SALE

* "WHILE SALE AGREEMENT BETWEEN PARTIES REMAINS IN PLACE, UNLESS HNA SUCCESSFULLY OVERTURNS OIO DECISION, SALE WILL NOT PROCEED"

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