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Article: China: ANZ, StanChart eye M&A in Asia.
- Article from:
- TendersInfo
- Article date:
- August 5, 2009
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Byline: shiv03
Australia and New Zealand Banking Group Ltd (ANZ) and Standard Chartered Plc lined up opportunistic buys in Asia, seeking growth
in a region expected to lead the world out of recession.
ANZ said on Tuesday it agreed to pay a smaller-than-expected $550 million to buy some Asian units from British lender Royal Bank of Scotland, helping it take on rivals HSBC Holdings Plc
and StanChart in Asia's fast-growing markets. StanChart, for its part, unveiled a surprise 1 billion pound ($1.7 billion) share placing to give it firepower to grasp opportunities as Asia's economies recover, just nine months after launching a 1.8 billion ...