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.
There are few people in the world of equipment leasing and finance who know the ins and outs of the industry like Ralph Petta, president and CEO of the Equipment Leasing and Finance Association, and Anthony (Tony) Cracchiolo, current chair... read more
Most of us enjoy the benefits of servitization (also known as managed services or managed solutions) every day. In fact, you may be holding a piece of equipment that includes bundled services in your palm as you read this article.... read more