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Australia approves ANZ’s $3.3 billion buyout of Suncorp Bank
Australia on Friday gave the go-ahead for ANZ Group’s A$4.9 billion ($3.26 billion) buyout of Suncorp’s banking business, clearing the deal to proceed after almost two years of scrutiny by financial regulators and treasury. Treasurer Jim Chalmers said the deal can proceed subject to enforceable conditions and had come after careful consideration, and consultation with treasury, regulators and the unions. “Following this lengthy and robust process, I received clear advice … that it would not be in the national interest to prohibit this transaction,” Chalmers said in a statement.
Reuters•
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