Siemens Financial Services has bought Russian
lessor DeltaLeasing from US Russia Investment Fund managed by Delta
Private Equity Partners.
The move is part of Siemens FS’s strategy to
position itself as a significant operator in Russian asset
finance.
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Roland Chalons-Browne, SFS chief executive,
said: “We are expanding our network as an international service
provider and complementing our equipment finance business in an
important emerging market. We aim to robustly grow DeltaLeasing’s
existing core business and to help Siemens sectors win new
customers and expand existing customer relationships.”
DeltaLeasing, with headquarters in
Vladivostok, has 15 offices across the Russian Federation and
employs 285 people. Approximately 85 percent of its portfolio is
invested outside Russia’s major business hubs of Moscow and St
Petersburg. The company reported new business volumes of $200m for
2010.
The transaction is subject to Russian
regulatory approval and is expected to close in the first quarter
of 2011.
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