The portfolio includes net lending assets of $7.8 billion comprising retail point-of-sale auto finance of $6.2 billion, and wholesale bailment facilities and other Esanda branded finance offered to motor vehicle dealers of $1.6 billion* . The total purchase price for the portfolio is $8.23 billion.
ANZ CEO Australia Mark Whelan said: “The sale of the Esanda Dealer Finance portfolio reflects a continued focus by ANZ on core businesses and further strengthens our capital position.
“Macquarie’s expertise, scale and reach mean they are ideally placed to continue providing high levels of support to dealer and auto finance customers,” Mr Whelan said.
Following completion, ANZ’s Common Equity Tier 1 ratio is expected to increase by ~20 basis points.
The sale does not include ANZ commercial broker, commercial asset finance or direct to consumer asset finance businesses.
The sale of the retail portfolio is expected to complete by 31 October 2015 with the wholesale portfolio expected to complete in phases by 31 March 2016.