ACN 603 303 126 Pty Ltd agreed to acquire motor vehicle dealer finance and novated leasing businesses of Westpac Banking Corporation from Westpac Banking Corporation (ASX:WBC) on June 28, 2021. Post completion, motor vehicle dealer finance and novated leasing businesses of Westpac Group will operate as Angle Auto Finance. Completion of the transaction is subject to regulatory approvals. The transaction is expected to complete by the end of the calendar year. Citi acted as financial advisor to Cerberus, parent company of ACN 603 303 126 Pty Ltd. ACN 603 303 126 Pty Ltd completed the acquisition of motor vehicle dealer finance and novated leasing businesses of Westpac Banking Corporation from Westpac Banking Corporation (ASX:WBC) on December 20, 2021. The transaction is expected to add 6 basis points to Westpac’s Common Equity Tier 1 capital ratio and generate an accounting gain on sale.