All articles by Verdict Staff
Verdict Staff
Crédit Agricole and Intesa in M&A deals
M&A activity has not completely died in leasing with the announcement last month that Crdit Agricole has acquired OTP Leasing in Slovakia.
CA Leasing starts operation in Italy
Paris-based Crdit Agricole has officially started leasing operations in Italy, after acquiring a company belonging to Leasint, an Italian lessor.
A night to remember
Just over a month after LeaseuropeEurofinas 2008 conference in Madrid, the European asset finance industry had a chance to exchange viewpoints and strategies once again, at Leasing Lifes annual Asset Finance Distribution conference and awards dinner in Brussels. Things began on the evening of 12 November, with a dinner preceding the announcement of the nights nine winners. Leasing Life editor Brendan Malkin began the presentation with a speech reflecting on the need to celebrate those lessors finding new ways to do business in a drastically changed business landscape.
Former management of troubled Banca Italease face fraud trial
The former heads of Banca Italease are due to go on trial following preliminary investigations into derivative losses suffered by the Milan-based leasing firm in 2007. Milan prosecutors Roberto Pellicano and Giulia Perrotta are seeking indictment for 11 people involved in the case, including the lessors former CEO, Massimo Faenza, who resigned in June last year after it emerged the firm faced losses of at least 400 million. The 10 others are within the former management team, which had allegedly built a parallel structure in order to steal money from the company
Troubled money
As has happened across the world of asset finance, the seizing-up of the credit economy has had an effect on the deployment of financial products in stock funding. Now, though, as the financial weather has eroded the security of these traditional credit lines, unit stocking terms, where funders treat deals in terms of numbers of individual assets rather than in bulk, are becoming more and more attractive to dealers.
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In response to the article ‘The path to the super fleet’, in the November issue of Leasing Life
In response to the article the path to the super fleet, printed on pages 8 and 9 of the November issue of Leasing Life). Having successfully completed two acquisitions in 2000 and 2002, the businesses were fully integrated by 2004 on a single, customer-centric platform
Vauxhall wins lease contract for 523 vans
Before placing its order with Vauxhall, HDNL, which has a total fleet of 2,600 vans, had a six-month evaluation exercise using 58 Vauxhall vans. These vehicles have been well received by our depot managers and drivers, said Brian Wheadon, director of fleet and facilities management at Home Delivery Network Limited.
CIT applies for bank status to drive funds as key European staff members depart
The recent departures from CIT of some its European key staff have added fuel to the fire regarding the increasing financial difficulties being faced by the New York-based firm. The company said that he was leaving for personal reasons, as he wishes to relocate back to the UK, although no replacement has been found yet
Competition forces ING Lease to close German forfeiting business
ING Lease in Germany is closing down its forfeiting business, Leasing Life can reveal. The move follows a strategic assessment of the 14 European ING Lease businesses, and can be attributed to capital allocation issues, ING Lease has confirmed. ING Lease Deutschland is closing down its forfeiting business so it can focus on its direct business, said Gerlach Jacobs, a director at ING Lease Holding.
HSH Nordbank closing leasing operations
HSH Nordbank has announced that it is realigning its activities to focus on two global active business units in the new year The bank said it would reduce its balance sheet from 200 billion to 120 billion, and move away from its leasing operations, amongst other business lines.