Page 38 - TIP Trailer Services Press Cuttings July 2017

12J0512017 Chinese conglomerate HNA plans to place NZ finance company UDC under the wing of its large European-Canadian equipment service subsidiary..

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Chinese conglomerate HNA plans to place NZ In this section
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Posted in Business May 12, 2017 - O5:02am, David Hargreaves O*r ]. o

By David Hargreaves BIG SAVINGS ON

Acquisitive Chinese conglomerate HNA Group BIG CURRENCY TRANSFERS
intends to put New Zealand's UDC Finance under the
wing of its European and Canadian equipment $$S#r 3*fi,$130 E
service subsidiary TIP Trailer Services. 1 Mi[i
a\
It is also planned that UDC will conlinue to issue
debentures to the public, as well as having a \_.i
securitisation programme. And the management and
staff at UDC will be retained. i"'li"::"IT::t

HNA's confident the deal will go lhrough as planned. NZ$ 435,780.15

The proposed acquisition ofthe long-established UDC business from ANZ for 9660 million was announced in
January with the intention of HNA completing the deal by the end of this year.

Till now HNA has been largely silent on its plans for UDC. But now it has, through its TIP subsidiary, given the
first glimpses ofthe strategy.

TIP says it is "leading the UDC purchase and separation". alongside the ANZ team, having "successfully Compare to Would retum NZForex saves
navigated" a similar process itsel{when HNA bought TIP from GE at the end of 2013, with TIP management
largely unchanged from the time olacquisition by HNA. ? ANZ 427.228.71 8,551.'14
? ASB 0 0
Netherlands-based TIP Trailer Services is one of Europe and Canada's leading equipmenl seruice providers ? BNZ
and has been growing rapidly, operating in '17 countries and 80 locations, and with assets reaching€1.35 ? WesFac 429.491.77 6,288.38
billionasatDecember20l6,upfromjust€1 billiontheyearbefore.Turnoverlastyearwasnearly€450 426,742.53 9,037.62

million, up from €370 million in 201 5 and the target for this year is €500 million, with a ta.get of €1 billion for
2020. Profits have not as yet matched the strong turnover and assei growlh, with reported net profit last year of
€15.6 million, down from €24.6 million the year before.

TIP'S presideni and chief executive Bob Fast, whose own role with TIP long precedes HNA's ownership of the Curency Etes on this page are supplied for indication
company, gave wriften responses on behalf of HNA to a number of questions submitied by interest.co.nz on the purposes only, and may or may not be Etes offered by any
proposed HNAJUDC deal. institution, We sour@ this data frcm publi.ly available sour@s,
at the tire shown above. Rates change often, and different
"lt is envisaged that on completion of the purchase, UDC will sit under and report to Globai TIP Holdings," Fast institutions are competitive in different curencies. Contact
said institutions directly lor ac{ual quotes. The comparisons on this
tool ae @ntrclled by interest.@.n2.

Mortgage Calculator

r"{r:usr: Pri** $ r 450,000

https://www. interest.co. nzlbusiness/B763Zchinese-conglom eraie-hna-plans- place-nz-fi nance.com pany-udc-under-wing- its- large 1t4