German lessor VR Leasing has increased its stake in VR Factorem
from 74.9 to 100 percent.
The remaining 25.1 percent share was previously held by French
factoring company Natixis Factor, a division of BPCE.
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VR Factorem has also appointed Hauke Kahlcke as a second
managing director. He will join Frank Geisen in the role from
1 January 2011.
The company will remain a separate entity within VR Leasing
Group and will source its business through bank co-operative,
Genossenschaftliche FinanzGruppe Volksbanken Raiffeisenbanken.
VR Factorem is expecting a turnover of €2.1 billion in 2010, and
has more than 500 customers, making it one of the largest factoring
companies in Germany.
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