U.S.-based Goldman Sachs Group Inc. is said to have won a role in managing the proposed IPO of Commonwealth Bank of Australia's unit, Colonial First State Global Asset Management, The Australian reported Feb. 1.
Goldman Sachs will join UBS Group AG and JPMorgan Chase & Co. to manage the potential listing of the unit, which is likely to launch in late 2018.
The move comes after the Australian lender reportedly held a meeting with joint lead managers for the proposed listing of the unit, with all three investment banks in attendance.
The appointment of Matt Comyn as CBA's new CEO does not appear to have slowed IPO plans for Colonial First State Global Asset Management, the report noted.
Meanwhile, New York-based Blackstone Group LP has joined the roster of potential buyers for Australia & New Zealand Banking Group Ltd. unit UDC Finance Ltd., the publication added, citing "sources in the market."
ANZ is still eyeing buyers for the unit after it called off a deal with Chinese conglomerate HNA Group Co. Ltd. following the rejection of New Zealand's Overseas Investment Office on the application of HNA Group.
New Zealand's Heartland Bank Ltd. recently reiterated its interest to acquire UDC Finance.
- Author
- Regina Liezl Gambe
- Theme
- Banking
