December 20, 2017 / 9:04 PM / a year ago

New Zealand's investment regulator blocks ANZ's UDC sale to Chinese firm

Dec 21 (Reuters) - The Australia and New Zealand Banking Group said on Thursday New Zealand’s overseas investment regulator had blocked Chinese conglomerate HNA Group’s $460 million purchase of its asset finance firm UDC Finance in New Zealand.

“While the sale agreement between the parties remains in place, unless HNA successfully overturns the OIO (Overseas Investment Office) decision, the sale will not proceed,” ANZ Bank group executive and New Zealand chief executive David Hisco said in a statement. (Reporting by Rushil Dutta in Bengaluru)

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