Aug 21 (Reuters) - Westpac Banking Corp WBC.AX :
* GROUP SELLS STRATEGIC ALLIANCES ("VENDOR FINANCE") BUSINESS
* TRANSACTION IS EXPECTED TO RESULT IN TRANSFER OF AROUND $500 MILLION OF CUSTOMER LOANS
* SALE IS EXPECTED TO HAVE A NEGLIGIBLE IMPACT ON WESTPAC'S BALANCE SHEET AND CAPITAL RATIOS
* COMPLETION OF TRANSACTION IS EXPECTED TO OCCUR AT END OF APRIL 2021
* EXPECTS A SMALL ACCOUNTING LOSS ON SALE
* AGREEMENT FOR SALE OF VENDOR FINANCE BUSINESS TO ANGLE FINANCE, A PORTFOLIO CO OF CERBERUS CAPITAL