SYDNEY: ANZ Bank completed the sale of its stake in Shanghai Rural Commercial Bank Monday and announced plans for a Aus$1.5 billion (US$1.15 billion) share buyback with the funds.
The lender agreed to offload its 20 percent holding in the company earlier this year for Aus$1.84 billion, with Chinese shipping giant COSCO and Shanghai Sino-Poland Enterprise each taking 10 percent.
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