Firms bank on billion-dollar deal

A trio of firms has acted on the sale of Capital Finance Australia and BOS International Australia to Westpac.

Digital • 29 October 2013 • Big Law

Firms: Minter Ellison; Allen & Overy (joint legal advisors to Lloyds Banking Group); Gilbert + Tobin (Westpac)

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Deal: Lloyds Group sells Capital Finance Australia and BOS International Australia to Westpac

Area: Banking & finance

Value: S1.55 billion

Key players: Victoria Mathewson (pictured) led the Minter Ellison team and Michael Parshall led the Allen & Overy team

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Deal significance: The $1.55 billion Westpac has paid includes approximately $1.45 billion for the shares in the operations and approximately $0.1 billion for the market value of derivative contracts. The sale comprises a motor vehicle finance book of $3.9 billion, equipment finance book of $2.9 billion and a corporate loan portfolio of $1.6 billion. This is one of the largest financial services transactions of recent times in the Australian market.

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