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ANZ says Baoshan Iron & Steel will buy a part of its stake in Shanghai Rural Commercial Bank


Monday, 18 Sep 2017 05:07pm EDT 

Sept 19 (Reuters) - Australia and New Zealand Banking Group Limited ANZ.NZ::Baoshan Iron & Steel will join China Cosco Shipping to acquire ANZ’s 20% stake in Shanghai Rural Commercial Bank.Baoshan will buy 10% stake in SRCB instead of Shanghai Sinopoland Enterprise Management Development Corp.There are no material changes to the financial terms of sale for ANZ.