June 2 (Reuters) - Australia and New Zealand Banking Group Ltd ANZ.AX :
* ANNOUNCES SALE OF UDC FINANCE
* AGREED TO SELL ITS ASSET FINANCE BUSINESS IN NEW ZEALAND, UDC FINANCE, FOR NZ$762 MILLION TO SHINSEI BANK LTD
* SALE PROVIDES ABOUT AUD$439 MILLION OF LEVEL 2 GROUP CET1 CAPITAL AT SETTLEMENT.
* SALE WILL ALSO RELEASE MORE THAN NZ$2 BILLION OF FUNDING PROVIDED BY ANZ NEW ZEALAND
* SALE COMPLETION EXPECTED IN SECOND HALF OF 2020 CALENDAR YEAR