December 20, 2017 / 8:54 PM / in 2 months

BRIEF-ANZ Informed NZ's Overseas Investment Office Declined HNA's Application To Buy UDC Finance

Dec 21 (Reuters) - Australia And New Zealand Banking Group Ltd:

* INFORMED THAT NEW ZEALAND‘S OVERSEAS INVESTMENT OFFICE HAS DECLINED HNA GROUP‘S APPLICATION TO ACQUIRE UDC FINANCE

* ‍OIO DECISION HAS NO IMPACT ON RECENTLY ANNOUNCED $AUD1.5 BILLION ON-MARKET BUY BACK OF ANZ BANKING GROUP SHARES​

* “WE DON‘T KNOW IF HNA WILL ATTEMPT TO OVERTURN THE DECISION”

* ‍“IF SALE DOES NOT PROCEED, WE‘LL ASSESS OUR STRATEGIC OPTIONS REGARDING FUTURE OF UDC”​

* ‍IF TRANSACTION DOES NOT GO AHEAD, ANZ‘S FY18 EARNINGS WILL NO LONGER BE ADJUSTED FOR SALE​

* “WHILE SALE AGREEMENT BETWEEN PARTIES REMAINS IN PLACE, UNLESS HNA SUCCESSFULLY OVERTURNS OIO DECISION, SALE WILL NOT PROCEED” Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com)

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