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ANZ funds marketing outfit

ANZ funds marketing outfit

(27 November 2007 – Australia) ANZ is providing marketing investment company CommQuest with a debt facility of A$44 million. CommQuest owns a group of marketing services companies which operate under their own brand.

Some A$35 million of the facility will be used to fund further acquisitions and A$9 million will be used for operational financing requirements.

ANZ Institutional managing director Peter Hodgson said ANZ believed the marketing services industry was a fast growing area and the bank looked forward to working with CommQuest.

CommQuest CEO William Scott said the company had an aggressive growth strategy and the facility would be used to make acquisitions over the next 12 months.
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