All articles by Verdict Staff
Verdict Staff
Banca Italease has potential buyers
Banca Italease SpA, the Italian lessor that experienced large derivative losses in 2007, may be acquired by US private equity fund JC Flowers & Co, a domestic newspaper reported Although German cooperative bank, DZ Bank is already in talks to buy the company, there is also the possibility that DZ Bank and JC Flowers combine forces, given that Italease has a market capitalisation of 1.2bn
Early days
Despite new-start Business Alliance reporting losses, it has secured deals with Russian blue-chips and is financing more large assets Well known for its niche leasing services for Russias energy sector, BA is majority held by VI-Trade (Overseas) Ltd Cyprus, an affiliate of Otkrytie Investment Group, which has 75 per cent of its stock less two shares
Caixa Leasing increases selling through bank branches
Portuguese lessor Caixa Leasing and Factoring has consolidated its activities within its banking parent, Grupo Caixa Geral de Deposit
Editor’s letter
During a crisis people need to show they are in control, which possibly explains why so many lessors are restructuring or pushing through dramatic changes at present
European Investment Bank injects more cash into Bulgaria
The Bulgarian arms of Raiffeisenbank and Societe Generale have received two credit lines worth a collective 70m from the European Investment Bank, of which a significant proportion will go to the banks leasing subsidiaries Raiffeisen Bank and Raiffeisen Leasing received 50m, of which 30 per cent will go to the leasing arm and is expected to be used for the purchase of long-term assets and for financing SMEs
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GE acquires CitiCapital assets
will purchase the majority of Citigroups North American commercial lending and leasing business, CitiCapital, in an all-cash transaction by the third quarter of 2008
Bidding for Government’s £4bn Intercity deal on hold
Only two bidders remain in the competition to build between 500 and 2000 new high speed train carriages: Hitachi Europe and a consortium comprised of Canadian engineering group Bombadier, German conglomerate Siemens and train lessors Angel Trains and Babcock & Brown
BA&SF completes syndication deal
Barclays Asset & Sales Finance (BA&SF) last month completed a syndicated £280m receivables financing deal with Palmer and Harvey (Holdings) Plc at a time the banking arm is seeking to bolster its asset based lending (ABL) capability
Lazard to handle Italease property sale
Italian leasing and factoring company Banca Italease has chosen Lazard to find potential buyers for its 400m-euro real estate portfolio, reported the Italian daily, Il Sole 24 Ore.
Cisco Capital launches in CEE
Eastern European SMEs are set to gain extra technological capabilities, following the launch of Cisco Capitals financing programme, EasyLease, which allows SME customers to adopt network technology more efficiently through leases for Cisco products and solutions