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Three banks tip into $600m Cerberus, Westpac vendor finance deal – The Australian Financial Review

Ceberus Capital Management has finally secured Westpac Banking Corporation’s vendor finance business, signing a $600 million deal on Thursday night.

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Cerberus Capital Management has finally secured Westpac Banking Corporation’s vendor finance business, signing a $600 million deal on Thursday night.
Cerberus Capital Management has secured Westpac Banking Corporation’s vendor finance business. Jessica Hromas
It is understood Cerberus was advised by Faraday Partners and Allens, while Westpac’s internal M&A team handled the bank’s side of the deal with help from law firm Gilbert + Tobin.
Sources said Cerberus’ offer, which was months in th…

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