Gilbert + Tobin is advising Australia’s Westpac Banking Corp. on its $1.37 billion acquisition of Lloyds Banking Group’s Australian assets.

Westpac, one of the Australia’s biggest banks, is buying Lloyds’s $1.5 billion corporate loan portfolio, as well as its motor vehicle and equipment finance business, which has some $6.4 billion in outstanding loans. The acquisition is expected to complete by the end of the year.