Login or request a free trial

Brief: A near miss for ANZ

•    ANZ dodged a bullet when the New Zealand Overseas Investment Office blocked the sale of its UDC Finance company to TIP-HNA, reports Newsroom Pro. The full decision of the OIA (released to Newsroom) raises questions about ANZ's due diligence process, given the high debt levels, liquidity and credit problems and "junk bond rating" of the Chinese HNA Group, which is now under investigation by financial regulators in China, Hong Kong, the US and Germany. Having failed to sell UDC, ANZ is considering listing the finance company.

I'm a returning subscriber

Password reset
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day