ANZ today announced it had successfully completed the sale of its OnePath Pensions & Investments (OnePath P&I) business to IOOF Holdings Limited (IOOF).
ANZ estimates proceeds from the transaction will increase its CET1 capital ratio by ~20 basis points. ANZ has reported the financial results for the IOOF business as part of Discontinued Operations since 1H18.
This successful transaction also completes ANZ's multi-year strategy to simplify its Wealth business which began in 2016.
/Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).View in full here.
