Potential buyers line up for ANZ Bank's UDC finance business

Tue, 19 Apr 2016

By Pattrick Smellie April 19 (BusinessDesk) - Private equity buyers would have an advantage over banks in bidding for ANZ Bank New Zealand's UDC Finance business because they would not be bound by capital adequacy ratio requirements, says First NZ Capital in analysis that suggests Heartland Bank is nonetheless a potential buyer. "There is some cross over between Heartland and UDC's operations in vehicle financing while UDC is heavily exposed to equipment financing," First NZ says in a note to investors. "The businesses are of similar size...

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