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Pepper acquires Suncorp portfolio
Norton Rose and KWM have acted on the sale of a Suncorp finance book
Digital
Firms: Norton Rose Australia (Suncorp Metway Limited) King & Wood Mallesons (Pepper Australia Limited)
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Deal: Suncorp sells its non-core auto and equipment finance book to Pepper Australia Limited
Area: Banking and finance
Value: $150 million
Key players: The team was led by David Lyons, partner, in Brisbane, in conjunction with Adrian Ahern (pictured), partner, in Sydney. Peter Norman, partner, worked alongside Adrian from a tax perspective and Petar Kuesnner, partner, on securitisation issues. They were assisted by senior associates Nigel Deed and Claire Falkner
Deal significance: The Suncorp portfolio acquired by Pepper comprises loans for passenger cars and commercial vehicles, as well as equipment finance across a variety of sectors, such as agriculture, office and medical.
