The Australia and New Zealand Banking Group has confirmed its in discussions to potentially acquire KKR owned accounting group MYOB.
ANZ said it was yet to reach an agreement and there was no certainty there would be a deal, but it would make an announcement if it entered an agreement.
It expected any transaction to be subject to regulatory approvals from the Australian Competition and Consumer Commission and the New Zealand Overseas Investments Office.on June 14.
MYOB’s got more than a million small business customers, and made $502 million revenue and a $104 million after-tax loss for the year to December 31. It was making $445 million annual revenue and a $190 million underlying EBITDA before KKR paid $2.4 billion to buy it off the ASX board May 2019. co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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