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(Reuters) - Westpac Banking Corp said on Thursday it would sell its auto finance loans book to non-bank lender Resimac Group for an expected value of A$1.4 billion ($963.62 million) to A$1.6 billion at completion.
Westpac, Australia's second-largest mortgage lender by loans, had partially sold its auto finance business to U.S. private equity firm Cerberus Capital Management in 2021, as it moved to focus on core banking operations.
"The transaction supports the strategic growth objectives of Re...
>>> Read more: Australia's Westpac to sell auto finance loan book to Resimac Group
Westpac, Australia's second-largest mortgage lender by loans, had partially sold its auto finance business to U.S. private equity firm Cerberus Capital Management in 2021, as it moved to focus on core banking operations.
"The transaction supports the strategic growth objectives of Re...
>>> Read more: Australia's Westpac to sell auto finance loan book to Resimac Group
