ANZ confirms discussions with KKR regarding potential acquisition of MYOB

In response to market speculation, ANZ has confirmed in a statement to the ASX, that it is in discussions with Kohlberg Kravis Roberts & Co. (KKR) about a potential acquisition of MYOB.

ANZ and KKR are yet to reach agreement in relation to the acquisition and there is no certainty it will proceed.

MYOB is one of Australia’s leading providers of business management, financial and accounting solutions for SMEs, Enterprise and Accounting Practice customers.

Should the transaction proceed it would be subject to regulatory approvals, including from the Australian Competition and Consumer Commission and the New Zealand Overseas Investments Office.

ANZ has said it will make an announcement to the market if the negotiations are successfully completed and an agreement is entered into.