by Miguelito » Thu May 24, 2018 8:49 am
Rumors have been swirling for a long time about what would happen to ANZ Royal. There have certainly been a few scandals that the board back in Australia haven't appreciated. It's actually a good example of the challenges for Western companies to come and do this large of business here, and is telling that an Asian firm bought them out.
From the
Post:
Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group.
Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank.
According to a Royal Group statement, JTrust Bank listed on the Tokyo Stock Exchange, reached a formal agreement to buy the stake in ANZ Royal Bank from Australia’s ANZ Group.
JTrust Bank operates in Japan, South Korea, Indonesia, Thailand and Cambodia, and has been established for more than 40 years.
Rumors have been swirling for a long time about what would happen to ANZ Royal. There have certainly been a few scandals that the board back in Australia haven't appreciated. It's actually a good example of the challenges for Western companies to come and do this large of business here, and is telling that an Asian firm bought them out.
From the [url=https://www.phnompenhpost.com/business/japan-bank-buys-major-stake-anz-royal-bank]Post[/url]:
[quote]Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group.
Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank.
According to a Royal Group statement, JTrust Bank listed on the Tokyo Stock Exchange, reached a formal agreement to buy the stake in ANZ Royal Bank from Australia’s ANZ Group.
JTrust Bank operates in Japan, South Korea, Indonesia, Thailand and Cambodia, and has been established for more than 40 years.[/quote]