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NAB Optimistic Over AXA APH Acquisition
Steve Tucker, chief executive of MLC, the wealth management unit of Australian banking major National Australia Bank (NAB) says he is confident that the lenders $13.2 billion bid for AXA Asia Pacific Holdings (APH) will ultimately be successful, despite the fact that the ACCC on Friday deferred its ruling on the proposed deal.
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NAB Remains In The Running For RBS UK Branch Network
Australian banking major National Australia Bank (NAB) and Virgin Money remain in the running for the acquisition of a 318 strong branch banking network owned by troubled British lender Royal Bank of Scotland (RBS), whilst Spanish banking giant Banco Santander remains the front runner, having hired Credit Suisse to advise on its bid.
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Competition Regulator May Extend Deadline For AXA Ruling
Graeme Samuel, chairman of the Australian Competition and Consumer Commission says that the regulator may need more time to evaluate the two competing bids for AXA Asia Pacific Holdings, and may have to extend the March 17th deadline for ruling on proposals by NAB and AMP.
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ANZ Denies Negotiation With AMP
Australian banking major ANZ was forced to comment on speculation linking it with Wealth Manager AMP in a $4 billion deal. ANZ said its sole priority right now, was to integrate its now wholly owned joint venture with ING.
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AMP Profits Leap 27 Per Cent And Still Interested In AXA Asia Pacific
Craig Dunn, chief executive of Australian wealth manager AMP, the second largest fund manager in the country, says his company continues to be interested in acquiring AXA Asia Pacific Holdings (APH), and is assessing its next move.
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AXA Asia Pacific Holdings Returns To Profitability
AXA Asia Pacific Holdings (APH), the subject of a takeover battle, returned to profitability in 2009 as investment earnings rebounded, driven by a recovery in the financial markets.
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Competition Regulator Voices Concern Over NAB AXA Bid
The competition regulator says it is more concerned with the proposed takeover of AXA Asia Pacific Holdings by National Australia Bank, than it was by the original bid tabled by AMP.
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AMPs Exclusivity Agreement With AXA Ends
Australian wealth manager AMP’s exclusivity agreement with French insurance giant AXA SA in the proposed acquisition of Australasian subsidiary AXA Asia Pacific holdings (APH), ceased to be effective at the weekend, implying that on Monday, investors will have a better idea of who will be buying the company.
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NAB May Bid For RBS UK Branch Network
Australian retail banking major National Australia Bank may team up with US private equity group Blackstone, and British buy-out firm Revolution in a potential bid for as many as 300 branches of troubled British banking giant Royal Bank of Scotland, according to the Financial Times.
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Macquarie Makes European Investment Banking Acquisition
Australian investment banking major Macquarie Group has acquired the research and investment banking operations of Luxembourg based private bank Sal Oppenheim.
Macquarie had recently acquired the private bank’s derivatives business in December last year.
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