24 March
A private investment vehicle associated with the founder of Firstmac Limited ACN 094 145 963 (Firstmac), acquires the Aussie Car Loans group from AFICO for an undisclosed amount in a 100% cash transaction.
05 January
AFICO is pleased to announce that Money 3 Corporation Limited (ASX: MNY) has completed the purchase of AFS and is now officially the owner of the asset finance lending business. The purchase of AFS for $10.8 million secures Money3 $48.9 million in gross loan book value and expands the addressable market in which the company operates.
03 December
AFICO is pleased to announce it has entered into a binding agreement to sell its asset finance lending business, Automotive Financial Services Pty Limited (AFS), to Money3 Corporation Limited (ASX: MNY or Money3) which will accelerate Money3's growth into the near-prime market segment.
10 September
On 10th September 2020, the Australian Office of Financial Management (AOFM) invested $9.5 million into a securitised warehouse trust (AFS AUTO-1 Trust) managed by Automotive Financial Services (AFS) - a subsidy of AFICO Pty Ltd.