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.
In the latest variation on “April Fool,” the Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary will become effective in the U.S. on April 1, 2017. In one of its parting... read more
Outbound prospecting is a key ingredient for the origination of equipment finance volume. Conversely, the No. 1 reason leasing sales people fail is because they don’t originate enough new business. It seems like an easy problem to solve. More targeted... read more