Allens Arthur Robinson has acted for the CIT Group Australia and CIT Group New Zealand on its $475 million sale to the Bank of Queensland.
The CIT Group is a leading supplier of vendor equipment finance to small and middle market companies.
Clayton Utz acted for the Bank of Queensland.
The Allens team was led by M&A specialist Jeremy Low, with fellow partners David Clifford and Andrew Wiseman also closely involved.
"We have enjoyed a longstanding relationship with CIT and are very pleased to have worked with the CIT team to bring this strategic transaction to a successful completion," Low said.
Although it will remain trading as the The CIT Group in the short term, it is expected that the Sydney based finance company will be rebranded under the Bank of Queensland umbrella in due course.
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