Aug 21 (Reuters) - Westpac Banking Corp (WBC) on Friday agreed to sell its vendor finance business to a U.S. private equity firm, potentially transferring about A$500 million ($359.80 million) worth of customer loans.
The business, which supports third parties to fund small-scale equipment finance loans, would be sold to Angle Finance, a portfolio company of Cerberus Capital Management, L.P, Westpac said in a statement.
The lender did not specify the value of the deal, but said it expects a small accounting loss on the sale.
($1 = 1.3897 Australian dollars)
News: WBC Australia's Westpac divests vendor finance business to U.S. firm
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$34.31 |
Change
0.650(1.93%) |
Mkt cap ! $117.3B | |||
| Open | High | Low | Value | Volume |
| $33.89 | $34.31 | $33.71 | $133.4M | 3.905M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50 | $34.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $34.32 | 1160 | 3 |
View Market Depth
| Last trade - 16.11pm 11/08/2025 (20 minute delay) ? |
| WBC (ASX) Chart |