ANZ Bank shortlisted to buy Wing Lung stake-source

SYDNEY, April 1 (Reuters) - Australia and New Zealand Banking Group Ltd (ANZ) (ANZ.AX), Australia's third-biggest lender, is one of the shortlisted parties to buy a controlling stake in Hong Kong lender Wing Lung Bank Ltd (0096.HK), an industry source said on Tuesday.

Shares in Wing Lung, with a market value of US$4.05 billion, jumped about 15 percent on Monday on speculation that talks on the sale of the lender will conclude soon.

"The deal is some weeks away from settling," said the source, who wished not to be named.

An ANZ spokesman said the bank was interested in expanding its business in Asia, but would not comment specifically on Wing Lung.

Media reports out of Hong Kong said that three potential buyers, including China Merchants Bank (3968.HK) and ANZ, were picked after a second round of bidding. The reports said they would conduct due diligence before entering final bids. Last month, Wing Lung said two of its largest shareholders were considering a possible sale in the family-run bank.

Wing Lung's two main shareholders, Wu Jieh Yee Co and Wu Yee Sun Co, own a combined 53.12 percent in Wing Lung. The bank said the two are considering their options, including a possible sale that could lead to an offer for all the shares in Wing Lung.

ANZ has been the most aggressive of the Australian lenders in its Asian expansion, and has already spent about A$1.7 billion in buying mainly minority stakes in banks from Indonesia to China.

Last year, ANZ appointed HSBC (HSBA.L) executive Mike Smith, with a longtime focus on emerging markets, as its new chief executive. That move was seen as a sign of ANZ's continued interest in growing its Asian footprint. ($1=A$1.09) (Reporting by Denny Thomas;)