The Overseas Investment Office (OIO) has turned down an application from Chinese company HNA group to buy ANZ’s UDC finance.
The country’s largest bank made the announcement to the NZX on Thursday morning.
The OIO said it could not determine who the “relevant overseas person” intending to make the purchase was from the information provided.
This meant the test in section 18 of the Overseas Investment Act – which covers whether a person is of good character – was not met.
from Ellie NZ Rss http://www.stuff.co.nz/business/100068665/ANZ-bid-to-sell-UDC-Finance-to-Chinese-rejected
from
https://ellieplume83.wordpress.com/2017/12/21/anz-bid-to-sell-udc-finance-to-chinese-rejected/
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