ANZ Bank deal to sell UDC Finance to HNA not proceeding

Fri, 12 Jan 2018

By Rebecca Howard Jan. 12 (BusinessDesk) - ANZ Bank New Zealand said an agreement to sell UDC Finance to Chinese conglomerate HNA Group for $660 million has terminated after the application was declined by the Overseas Investment Office in December. "The agreement to sell UDC Finance to HNA Group will not proceed as the agreement with HNA has now been terminated in accordance with the contracted timeframe," ANZ said in a release. “Following the termination of the agreement with HNA, we’ll continue to assess our strategic options regar...

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