ANZ To Sell Asset Finance Business In New Zealand To Shinsei Bank For NZ$762 Mln

By RTTNews Staff Writer ✉ | Published: 6/1/2020 11:24 PM ET

Australia And New Zealand Banking Group Ltd. (ANZ.AX,ANZBY.PK,ANZ) said that it has agreed to sell its asset finance business in New Zealand, UDC Finance, to Japanese financial institution Shinsei Bank Limited for NZ$762 million.

The UDC sale is subject to regulatory approval and completion is expected in the second half of the 2020 calendar year.

ANZ said that the sale provides about A$439 million of Level 2 Group CET1 capital at settlement.

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