ANZ to sell Esanda Dealer Finance business
ANZ today announced its intention to sell the Esanda Dealer Finance business with an Information Memorandum expected to be issued to potential bidders later this month.
The sale will include approximately $8.3bn in lending assets comprising point-of-sale finance, bailment facilities and other Esanda branded finance offered to motor vehicle dealers.
ANZ CEO Australia Mark Whelan said: “The sale of the Esanda Dealer Finance business is part of a broader Group priority to actively manage our portfolio of businesses to ensure we use capital efficiently, as well as a focus on ANZ branded products.”
ANZ remains committed to providing asset finance for its customers under the ANZ brand and the sale does not include the ANZ commercial broker, commercial asset finance or direct to consumer asset finance businesses.