Lazard LAZ +0.52% Australia Private Equity has appointed its...

Lazard LAZ +0.52% Australia Private Equity has appointed its corporate advisory arm to sell Scottish Pacific Debtor Finance after three unsolicited approaches were received, a person familiar with the matter said Monday. The business is projected to deliver fiscal 2013 earnings before interest and tax of around 15 million Australian dollars (US$15.4 million), and at a conservative multiple of seven times, could fetch A$105 million, the person said. Reuters Scottish Pacific’s logo includes the Scottish flag, pictured here Indicative bids are due March 4 which a preferred buyer likely to be selected by April, the person said. A bid from FlexiGroup Ltd. FXL.AU -0.98% – which was one of the parties behind an unsolicited approach – is expected, the person added. Lazard Australia Private Equity bought a more-than 80% stake in Scottish Pacific in May 2010 alongside its management. The company provides debtor finance to small-to-medium enterprises with annual sales of up to A$200 million. It has operations throughout Australia and New Zealand, and growth in its trade finance division has resulted in expansion into China, where it employs two staff at present. A spokesman for FlexiGroup was unable to comment immediately.