ANZ in conversation with KKR related to MYOBs acquisition

In response to the media speculation, Australia and New Zealand Banking Group Limited (ASX: ANZ) confirmed that it is in conversation with Kohlberg Kravis Roberts & Co. (KKR) about the possible acquisition of MYOB.

MYOB is amongst the leading providers of business management, financial as well as accounting solutions for SMEs, Enterprise and Accounting Practice clients in Australia.

ANZ and KKR are yet to reach any deal related to the acquisition. At the same time, ANZ confirmed that there is no guarantee that acquisition will proceed.

To proceed the transaction, it requires approval from ACCC and New Zealand Overseas Investments Office.

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