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UPDATE 1-Macquarie, Carlyle shortlisted for $6.4 bln ANZ car finance unit-sources

Published 17/07/2015, 04:41 pm
© Reuters.  UPDATE 1-Macquarie, Carlyle shortlisted for $6.4 bln ANZ car finance unit-sources
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(Adds details on bidders, background)

By Swati Pandey and Sharon Klyne

SYDNEY, July 17 (Reuters) - Macquarie Group MQG.AX , U.S. private equity giant Carlyle CG.O and China's HNA Group HNAIRC.UL are among the bidders shortlisted for ANZ Banking Group's ANZ.AX $6 billion-plus car and equipment loan book, five sources with direct knowledge of the matter said on Friday.

The deal, the second major sale of a finance portfolio in Australia after General Electric's GE.N $7 billion consumer lending book in March, comes at a time when Australian banks are facing pressure to lift capital ratios under stricter regulations. ID:nL4N0ZT05N

For Macquarie, the acquisition would help it expand its car lending portfolio in Australia as it looks to strengthen its retail franchise, while China's HNA would gain access to the developed nation's high-quality loans.

Private equity buyout firm KKR & Co KKR.N bidding with Varde Partners, as well as a group comprising TPG TPG.UL and Blackstone BX.N failed to make it to the next round, three of the sources added. Final bids are expected by end-August.

The sources could not be identified as discussions were confidential while official announcements on the process and shortlisted candidates will not be made public.

KKR and TPG declined to comment when contacted by Reuters.

Macquarie Group and Carlyle did not immediately respond while a spokeswoman for HNA Group said she was not aware of the deal.

Deutsche Bank DBKGn.DE is advising ANZ, Australia's third-largest bank, on the sale. A spokeswoman at Deutsche declined to comment.

Shortlisted parties are currently undertaking due diligence for the car finance unit, called Esanda after preliminary bids were received on June 29, the sources said. ID:nL4N0ZF2K1 .

KKR, Varde Partners and Deutsche Bank had successfully bid for GE Capital's Australian and New Zealand consumer lending arm which is expected to be completed by September. ID:nL3N0WI1G2

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