Cerberus Capital to acquire Westpac Vendor Finance business.

Cerberus Capital Management, a private equity firm, agreed to acquire the Vendor Finance business of Westpac Group, a financial services provider. Financial terms were not disclosed. “The sale represents the first transaction of the Group’s simplification initiatives and brings certainty for Vendor Finance customers and new opportunities for our people,” Jason Yetton, Westpac Chief Executive, Specialist Businesses.