GE’s to sell Australia, NZ consumer finance unit for $6.26 bln

Värde Partners, KKR and Deutsche Bank have agreed to buy GE Capital’s Australia and New Zealand consumer lending business for A$8.2 billion (US$6.26 bln). The unit, A partner to many retailers in Australia and New Zealand, provides personal loans, credit cards and interest free retail finance. It has more than 3 million customers. Credit Suisse and Morgan Stanley provided advice to GE, while Bank of America Merrill Lynch, Moelis & Company and Citi advised the consortium.

429 Views

Värde Partners closes $2 bln for fund

Värde Partners has raised $2 billion in the final close of its latest fund focused on distressed and credit-oriented investments. Most of the pool’s LPs backed the firm’s previous funds.

Värde Partners Enables SAV Exit

Global fund manager Värde Partners has agreed to acquire SAV Credit Limited, a UK-based specialist credit card provider, from majority shareholders Palamon Capital Partners, Electra Private Equity and Morgan Stanley Alternative Investment Partners in a deal worth £472 million. Palamon, Electra, and Morgan Stanley have supported the development of SAV from a start-up in 2002. Värde Partners first partnered with SAV Credit in March 2010 and is acquiring the business as part of its strategic growth plans.

PE HUB Community

Join the 12518 members of PE HUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget