Heartland Bank’s interest in buying UDC Finance isn’t going away.
Jeff Greenslade, Heartland’s chief executive, described ANZ-owned UDC as being an “ideal fit” for his company’s business at its annual general meeting on November 22.
A big part of UDC’s business involves vehicle loans, which is also an important part of Heartland’s business.
Heartland last raised an interest in buying UDC in April.
Greenslade told the meeting it is unclear whether UDC is for sale, but the “market sentiment is that a decision is imminent”.
“We believe an acquisition complements our strategy and would provide a number of synergies.”
An ANZ spokesperson previously told Fairfax Media that if ANZ was to make a decision about the potential sale of UDC Finance, it would “inform staff, customers and investors immediately”.
