Macquarie Group has been given the go ahead to buy vehicle finance company Esanda from ANZ by the competition watchdog.
The Australian Competition and Consumer Commission decided the proposed takeover would not substantially reduce competition in point-of-sale finance to customers or bailmant finance, which dealerships use to acquire the vehicles in their showrooms before selling them.
ACCC chairman Rod Sims said competition from Westpac and others would ensure that the merged company's offers remain competitive with those of other dealers.
The sale of Esanda would help ANZ meet regulatory demands to hold additional capital.
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