The bank has confirmed the sale of UDC to HNA Group will not proceed. This follows the announcement that the NZ regulator has rejected the transaction.
Deutsche Bank is disappointed that the sale has been terminated but does not consider this significant relative to the bank’s divestment program.
Target is $30. Hold rating retained.
Target price is $30.00.Current Price is $28.52. Difference: $1.48 – (brackets indicate current price is over target). If ANZ meets the Deutsche Bank target it will return approximately 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).