Jun
29

Private Equity Firms Circle Australian Car Finance Company

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Sydney, AUSTRALIA — The American private equity firms Carlyle Group and TPG are in discussions to buy Esanda, Australia’s second-largest auto financing business, according to people briefed on the matter.

Carlyle and TPG are bidding separately for Esanda, which has $6.3 billion in lending assets. They face competition to buy the 62-year old business from Macquarie Group, according to the people, who spoke on condition of anonymity. Nonbinding bids were due on Monday.

Sydney-based Macquarie, Australia’s biggest investment bank, wants to combine Esanda with its own vehicle financing business, Macquarie Leasing, the third-largest such business in the Australian market…

Private Equity Firms Circle Australian Car Finance Company

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