- In negotiations with Australia & New Zealand Banking Group (OTCPK:ANZBY), KKR (NYSE:KKR) is seeking more than A$4B ($2.7B) for MYOB Group, an accounting software business that the private equity firm had acquired in 2019 in a deal that valued it at ~$A2B, Bloomberg reported Tuesday.
- The talks are in an advanced stage, the people said. ANZ Banking Group has been in negotiations for loans to finance the potential deal, one of them told Bloomberg. Still, KKR's (KKR) sale of MYOB to ANZ isn't guaranteed and the deal could fall apart.
- The purchase would help ANZ (OTCPK:ANZBY), the smallest of Australia's big four lenders, strengthen its ties with hundreds of thousands of small businesses in the country where MYOB has been a popular bookkeeping program, Bloomberg said.
- Earlier this year, ANZ (OTCPK:ANZBY) issued the first Australian-bank-issued stablecoin payment through blockchain transaction in March.
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