This tracker covers possible deals reported by media across Asia-Pacific over a certain period. The information is gathered from various news sources, excludes confirmed deals, and is limited to potential acquisitions or sales involving companies or operations in the region. Click here to read the previous month's report.
Potential deal activity in the Asia-Pacific's financial sector remained strong in May as investors prepared for the possibility of sizable bank transactions.
National Australia Bank Ltd. informally expressed an interest in buying the banking unit of Suncorp Group Ltd., The Australian Financial Review reported. The possible acquisition could add nearly A$60 billion in loans to NAB's balance sheet. On the other hand, selling its banking subsidiary would leave Suncorp as a pure-play general insurer and with around A$5 billion to either return to shareholders or reinvest in its core business.
In Malaysia, Grab Holdings Ltd. is considering purchasing an equity stake in Malaysia's AMMB Holdings Bhd. from the lender's two largest shareholders, Australia and New Zealand Banking Group Ltd. and Tan Sri Azman Hashim, The Edge reported. ANZ and Hashim own 21.68% and 11.83% stakes, respectively, in the bank. The news came amid reports that AMMB Holdings was revisiting a merger proposal with RHB Bank Bhd.
Below is a snapshot of May reports of potential deals compiled by S&P Global Market Intelligence.
Over in East Asia, Hana Financial Group Inc. unit Hana Financial Investment Co. Ltd. is considering acquiring a 100% stake in Hong Kong-based KEB Hana Global Finance Ltd., a unit of South Korea's KEB Hana Bank, for $100 million, Yonhap News Agency reported. The move is said to be in line with Hana Financial Investment's plan to venture into overseas markets with high growth potential. The company has yet to make a final decision on the matter.
In South Asia, however, Pakistan's United Bank Ltd. and Askari Bank Ltd. withdrew intention to acquire a majority stake in Samba Bank Ltd. from The Saudi National Bank, after the latter reversed its earlier decision to sell its stake due to "considerable uncertainty in market conditions."
Meanwhile, the region's nonbanking financial sector continued to attract interest from investors. Colonial First State Investments Ltd. is leading the race to acquire Westpac Banking Corp.'s wealth business, including BT Panorama, according to The Australian Financial Review. Further, equities fund manager Perpetual Ltd. is reportedly working on another approach and possibly making another offer for Pendal Group Ltd. after the investment manager rejected its A$2.4 billion cash-and-scrip buyout proposal in April, The Australian reported.
In India, Paytm's proposed acquisition of Raheja QBE General Insurance Co. Ltd. collapsed after the deal did not push through within the specified period. Following the share sale termination, the Indian payments company said it intends to continue working to obtain a general insurance license.
Further articles about other deal possibilities
India's L&T Finance mulls exiting lending business in real estate projects
HSBC and Ping An executives plan to discuss breakup proposal – source