Angle Finance’s Acquisition of Westpac Auto Business

Allens has advised Cerberus Capital Management on the acquisition of Westpac’s motor vehicle dealer finance and novated leasing business (Westpac Auto Business).

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 Westpac Auto Business is one of Australia’s largest auto finance businesses, writing approximately $4 billion in loans annually.

Westpac is Australia’s oldest bank and company, one of four major banking organisations in Australia and one of the largest banks in New Zealand.

Angle Finance is an Australian-based non-bank lender delivering equipment finance from a different angle. 

The Allens team comprised of Noah Obradovic (lead Partner, Picture), Tom Story (Partner), Patrick McGregor (Senior Overseas Practitioner), Josh Hoare (Senior Associate), Jewel Zhu (Associate), Alex Selig (Associate), Ben Toscano (Lawyer)(all M&A); Renee Boundy (Partner), Benjamin Downie (Partner), Michael Gibling (Senior Associate), Tom Monk (Senior Overseas Practitioner), Dimity Brown (Senior Associate), JJ Aldahr (Associate), Shehan Canagasingham (Associate), Aaron Wong (Associate), Natalie Soh (Overseas Practitioner), Taylor Spensieri (Lawyer), Aleeza Shady (Legal Operative), Eric Gonzales (Law Graduate), Jessica Shao (Law Graduate), Angela Zhangbao (Law Graduate)(all Banking & Finance); Kerensa Sneyd (Managing Associate), Amy Atashi (Managing Associate), Dominque Logan (Associate)(all Regulatory); Andrew Wong (Counsel)(FIRB); Dominic Anderson (Managing Associate), James Daniel (Associate)(all Technology, Media and Telecommunications); Sikeli Ratu (Partner), Virginia Dore (Law Graduate)(Employment and Safety); Joel Barrett (Partner), Edward Thien (Associate)(all IP);Adrian Chek (Partner), Jay Prasad (Senior Associate), Tom Tian (Senior Associate), Nancy Goh (Lawyer), Tamar Ruiz (Lawyer)(all Tax); Jacqueline Downes (Partner), Rosannah Healy (Partner), Anita Thompson (Managing Associate), Luke Archer (Associate), Hanna Kaci (Associate), Tiana Macleod (Lawyer)(all Competition, Consumer and Regulatory), and Jenny Campbell (Partner)(Disputes and Investigations). 






Involved fees earner: Josh Hoare – Allens; Joseph James Aldahr – Allens; Dominic Anderson – Allens; Luke Archer – Allens; Joel Barrett – Allens; Renee Boundy – Allens; Dimity Brown – Allens; Jenny Campbell – Allens; Shehan Canagasingham – Allens; Adrian Chek – Allens; Amy Atashi – Allens; James Daniel – Allens; Virginia Dore – Allens; Jacqueline Downes – Allens; Benjamin Downie – Allens; Michael Gibling – Allens; Nancy Goh – Allens; Eric Gonzales – Allens; Rosannah Healy – Allens; Hanna Kaci – Allens; Dominque Logan – Allens; Tiana Macleod – Allens; Patrick McGregor – Allens; Tom Monk – Allens; Noah Obradovic – Allens; Jay Prasad – Allens; Sikeli Ratu – Allens; Tamar Ruiz – Allens; Alexander Selig – Allens; Aleeza Shady – Allens; Jessica Shao – Allens; Kerensa Sneyd – Allens; Natalie Soh – Allens; Taylor Spensieri – Allens; Tom Story – Allens; Edward Thien – Allens; Anita Thompson – Allens; Tom Tian – Allens; Ben Toscano – Allens; Aaron Wong – Allens; Andrew Wong – Allens; Angela Zhangbao – Allens; Jewel Zhu – Allens;

Law Firms: Allens;

Clients: Cerberus Capital Management, L.P.;

Author: Sonia Carcano