Australia & New Zealand Banking Group (ANZ) has confirmed that it is in talks with Kohlberg Kravis Roberts for the potential acquisition of MYOB.

As per Bloomberg’s report, the talks between ANZ and KKR are at an advanced stage and the deal could value MYOB at over A$4bn ($2.7bn).

KKR acquired the Australian firm in 2019 at a valuation of A$2bn.

Last week, the publication reported that ANZ is looking to sell its 39% stake in PT Bank Pan Indonesia, also known as Panin Bank.

Read more: Retail Bank International