United States

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.