October 16, 2017 / 8:22 PM / 10 months ago

Australia's ANZ Bank on trading halt ahead of announcing deal

MELBOURNE, Oct 17 (Reuters) - Australia and New Zealand Banking Group Ltd said on Tuesday it is about to announce a deal, calling for a trading halt on its shares.

The halt came after the Australian Financial Review reported that Australia’s no.4 lender was set to sell its wealth business to IOOF Holdings in what could be a A$4 billion ($3.14 billion) deal.

“The trading halt has been put in place pending the release of an announcement relating to a transaction, to be made by the company this morning,” ANZ said in a statement to the New Zealand stock exchange, where it is also listed.

Citing anonymous sources, the newspaper said that IOOF had started preparing an equity raising to fund the acquisition.

$1 = 1.2739 Australian dollars Reporting by Sonali Paul; Editing by Catherine Evans

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