GCTL8.com (FocusAsia Media Ltd)

WELLINGTON, Jan 11 (FAM) – One of the world’s biggest asset finance and leasing companies, China-based HNA Group, has purchased its first foothold in New Zealand.

ANZ Bank New Zealand Ltd., one of New Zealand’s biggest commercial banks, said Wednesday that HNA had agreed to buy its asset finance business, UDC Finance, for 660 million NZ dollars (461.47 million U.S. dollars).