ANZ Sells New Zealand Equipment Finance Arm for $628MM


Back to
Today's News

The Sydney Morning Herald reported that Australian-based ANZ Bank sold UDC Finance, its New Zealand equipment financing division, to China’s HNA Group in a deal valued at $628 million.

The Herald said that ANZ by selling UDC Finance, it took a gain of $100 million.

The Herald noted that ANZ’s core markets, which it is aiming to focus on, are retail, commercial and institutional banking which UDC does not fall under.

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
tmulreany@monitordaily.com
Frank Battista
Advertising: 800 708 9373 x120
fbattista@monitordaily.com

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com