Australia approves ANZ’s $3.3 bln buyout of Suncorp Bank

SYDNEY, June 28 (Reuters) – Australia on Friday gave the go-ahead for ANZ Group’s (ANZ.AX), opens new tab A$4.9 billion ($3.26 billion) buyout of Suncorp’s (SUN.AX), opens new tab banking business, clearing the deal to proceed after almost two years of scrutiny by financial regulators and treasury.

Treasurer Jim Chalmers said the deal can proceed subject to enforceable conditions and had come after careful consideration, and consultation with treasury, regulators and the unions.