Processing timeline
17
days
Acquirer(s)
ALLIED RETAIL FINANCE PTY LTD ABN - 31 609 859 985
Target(s) or Vendor(s)
MACQUARIE LEASING PTY LTD ABN - 38 002 674 982, The Trustee for SMART B Trust ABN - 18 229 600 756, MACQUARIE BANK LIMITED ABN - 46 008 583 542
Other parties
ALLIED CREDIT PTY LTD ABN - 65 143 964 667
Allied Retail Finance Pty Ltd, a subsidiary of Allied Credit Pty Ltd, is acquiring the remaining portfolio of automotive loans, leases, and associated assets from Macquarie Leasing Pty Ltd, Macquarie Bank Limited, and the trustee of the SMART B Trust. This asset acquisition is part of Macquarie's ongoing exit from the automotive finance industry.
Allied Retail Finance Pty Ltd ( Allied Retail Finance ), a wholly owned subsidiary of Allied Credit Pty Ltd ( Allied Credit ), proposes to acquire the remaining portfolio of automotive loans and leases originated by Macquarie Leasing Pty Limited and other associated assets (including all legal and equitable interests in the data and records relating to the loan assets) held by Macquarie Leasing Pty Ltd, Macquarie Bank Limited and the trustee of the SMART B Trust (together, Macquarie ). The proposed transaction is supplementary to previous transactions between the parties as part of Macquarie's staged exit from the automotive finance industry which has been ongoing since 2021. Macquarie will continue to service a small portfolio of car loans originated by Macquarie Bank Limited but ceased new car loan originations in April 2024. Allied Credit was established in 2010 and is the parent company of the Allied Credit Group, which provides motorcycle, marine, recreation and automotive finance solutions to vehicle and equipment businesses, original equipment manufacturers and distributor dealer networks and their customers in Australia. Allied Credit's product range includes retail consumer, commercial, and wholesale floorplan finance, as well as novated leases.