Australia and New Zealand Banking Group has dropped talks with KKR for the potential $3.04bn buyout of software firm MYOB.
The banking corporation said it “confirmed that it has withdrawn from discussions with Kohlberg Kravis Roberts & Co. (KKR) about a potential acquisition of MYOB” in a statement without further explanation.
KKR bought into MYOB in 2019 for A$1.6bn through its Asian Fund III.
KKR closed its third Asia-focused vehicle on $9.3bn in 2017, making it one of the biggest ever funds devoted to the region at the time.
Read more: Alt Assets
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