Deutsche Leasing has completed its purchase of HSH Nordbank
subsidiary Deutsche Anlagen-Leasing (DAL), buying the remaining 40%
stake in the company it did not already own.
The sale is part of the Landesbanken-owned lender’s divestment
of non-strategic holdings, and will make DAL wholly owned by
Deutsche Leasing. The contracting parties agreed not to disclose
the purchase price.
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In 2004, Deutsche Leasing bought a 60% stake in big ticket
specialist DAL. Later in 2008, HSH Nordbank said it planned to
halve its asset base by 2012 as part of cost cuts throughout the
whole business.
Kati Eggert, spokesperson at Deutsche Leasing, which is owned by
the famously risk-averse network of Sparkassen (local savings
banks), commented that the acquisition was driven by HSH’s need for
divestments.
She said that there are no plans to acquire
part or all of any other leasing businesses owned by the
Landesbanken.
“Our target is to keep this position [as
market leader], but we are planning a natural volume of growth
rather than a huge expansion.”
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By GlobalDataShe added that there will be no changes in how
DAL will operate.
Elza.HolmstedtPell@vrlfinancialnews.com
