China Travel Financial Holdings Co., Limited, Pepper Australia Pty Ltd, and York Capital Management Global Advisors, LLC signed an agreement to acquire PrimeCredit Limited and Shenzhen Prime Credit Limited from Standard Chartered Bank (Hong Kong) Limited.
December 15, 2014
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China Travel Financial Holdings Co., Limited, Pepper Australia Pty Ltd, and York Capital Management Global Advisors, LLC signed an agreement to acquire PrimeCredit Limited and Shenzhen Prime Credit Limited from Standard Chartered Bank (Hong Kong) Limited on December 16, 2014. The transaction is led by China Travel Financial Holdings as majority investor. In a related transaction, The Bank of East Asia, Limited agreed to acquire Mortgage Loans Portfolio from PrimeCredit Limited. The transaction is subject to certain conditions including regulatory approvals for the change of control of Shenzhen Prime Credit. As on May 6, 2015, Pepper Australia purchased a 12% stake in PrimeCredit and Shenzhen PrimeCredit.
Goldman Sachs (Asia) L.L.C. acted as financial advisor for China Travel Financial, Pepper Australia and York Capital. David Watkins, Laurence Rudge, Mark Hughes, Roger Cheng, Kevin Ip, Jacky Man, Dennis Li, Michael Chapman; Tax: Jeanette Zaman and Homyar Pahlan of Slaughter and May, Jun He Law Offices and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor and Morgan Stanley Asia Limited acted as the legal advisor for Standard Chartered. Citigroup Global Markets Australia Pty Limited acted as financial advisor to Pepper. Anna Frilingos, Michael Henderson and Sarah Bulle of DEC PR acted as public relation advisors for Pepper. Anne-Marie Neagle, Richard Mazzochi, Josh Cole, Hayden Flinn, Paul McBride, Jason Qiu and Yingmao Tang of King & Wood Mallesons acted as legal advisor to China Travel Financial Holdings Co., Limited, Pepper Australia Pty Ltd, and York Capital Management Global Advisors, LLC.
Pepper Money Limited is an Australia-based non-banking lender. The Company's segments include Mortgages, Asset Finance, and Loan and Other Servicing. The Mortgages segment includes both residential mortgages and commercial real estate in Australia and New Zealand, and its lending comprises residential prime and non-conforming mortgages. The Asset Finance segment is engaged in the ownership of loans secured over a range of assets, including new and used cars, caravans and small commercial equipment in Australia. The Loan and Other Servicing segment include the servicing of loan portfolios for third parties conducted by the Company in Australia. The Loan and Other Servicing segment also include loan broker servicing (administration and compliance support). It has a range of product offerings, including residential home loans, asset finance, commercial real estate and novated leases in Australia and residential home loans in New Zealand.
China Travel Financial Holdings Co., Limited, Pepper Australia Pty Ltd, and York Capital Management Global Advisors, LLC signed an agreement to acquire PrimeCredit Limited and Shenzhen Prime Credit Limited from Standard Chartered Bank (Hong Kong) Limited.
PEPPER MONEY LIMITED 
