ANZ to Take Over Suncorp’s Banking Business in $4.9 Billion Deal

ANZ to Take Over Suncorp’s Banking Business in $4.9 Billion Deal
Commuters walk past an ANZ Bank branch in Martin Place in Sydney, Australia, on June 7, 2022. Brendon Thorne/Getty Images
Alfred Bui
Updated:

Australia’s Suncorp Group has announced that it has accepted a $4.9 billion (US$4.02 billion) deal to take over its banking business from ANZ, one of the big-four lenders in the country.

The transaction represents $3.21 per share and is expected to yield net proceeds of $4.1 billion for Suncorp after deducting relevant transaction costs.

Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
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