ANZ Banking Group may reap $1.5b from Esanda Dealer Finance unit

Joyce Moullakis and Sarah Thompson

Updated May 4, 2015 – 6.59pm, first published at 5.10pm

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ANZ Banking Group has confirmed it intends to offload its Esanda Dealer Finance unit, in an auction that may garner local and offshore interest and see the lender reap proceeds in the order of $1.5 billion.

The sale, which is roughly half of total assets sitting under the broader Esanda arm, represents $8.3 billion in assets. In a statement on Monday, ANZ said sale documents were due out later this month. First round bids are expected before the end of June.

Joyce Moullakis writes on banking and finance, specialising in investment banking, private equity, and financial services.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.