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Allens advises on one of largest private equity and capital markets transactions of 2021
Allens has advised Cerberus Capital Management on the acquisition of Westpac’s motor vehicle dealer finance and novated leasing business (Westpac Auto Business).
The Westpac Auto Business is one of Australia’s largest auto finance businesses, writing approximately $4 billion in loans annually.
Angle Finance – a Cerberus Capital Management portfolio company – will acquire the automotive dealer and introducer agreements, together with wholesale dealer loans of approximately $1 billion, strategic alliance agreements with vehicle manufacturers, and novated lease origination capability and related agreements
The Allens team incorporated expertise from across the firm’s practice groups to advise on all aspects of the acquisition, including M&A, banking and finance, regulatory, IT/separation, employment, competition, litigation and disputes, and FIRB clearance.