ANZ raises funds for Royal Bank assets (Dealscape

Australia & New Zealand Banking Group Ltd. on Wednesday, May 27, positioned itself for a takeover of Asian assets of Royal Bank of Scotland Group plc by announcing a A$2.5 billion ($2 billion) institutional share placement.

The auction by the Edinburgh bank is part of a massive retrenchment after the institution earlier this year posted the biggest loss in U.K. corporate history and ceded a controlling stake to the British government. Melbourne, Australia-based ANZ said it had submitted a non-binding bid for certain Asian assets of Royal Bank of Scotland but didn't say which. ANZ had been competing with HSBC Holdings plc and Standard Chartered plc for the assets, though neither institution submitted bids by last week's deadline.

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904 in-depth reports of M&A deals in the Financial Services sector
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114 in-depth transaction records for Royal Bank of Scotland
72 articles related to Australia and New Zealand Banking Group Ltd.
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NOT A SUBSCRIBER? ANZ raises funds for Royal Bank assets Posted on May 27, 2009 5:00 PM Australia & New Zealand Banking Group Ltd. on Wednesday, May 27, positioned itself for a takeover of Asian assets of Royal Bank of Scotland Group plc by announcing a A$2.5 billion ($2 billion) institutional share placement. The auction by the Edinburgh bank is part of a massive retrenchment after the institution earlier this year posted the biggest loss in U.K. corporate history and ceded a controlling stake to the British government. Melbourne, Australia-based ANZ said it had submitted a non-binding bid for certain Asian assets of Royal Bank of Scotland but didn't say which. ANZ had been competing with HSBC Holdings plc and Standard Chartered plc for the assets, though neither institution submitted bids by last week's deadline. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 904 in-depth reports of M&A deals in the Financial Services sector 138 company pages related to Australia 114 in-depth transaction records for Royal Bank of Scotland 72 articles related to Australia and New Zealand Banking Group Ltd. 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Birds Eye Cadbury AG Agrium Inc. Skadden Arps Revolution Money Tandberg ASA Aisling Capital Ken Lewis Natco		EXISTING USERS Username Password Forget your password? Missing a product?

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