Raiffeisen Leasing has purchased a 30m chunk of the ING Lease Romania portfolio for an undisclosed sum.
Nearly 50% of the portfolio is made up of car leases with over 31% equipment leases and nearly 19% real estate leases.
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The deal, due to be completed at the beginning of 2014, will mean Raiffeisen Leasing gains more than 60 large and mid-sized corporate clients, and the company will also take a number of ING Lease employees as part of the deal.
Felix Daniliuc, chief executive of Raiffeisen Leasing Romania, said the book complements their existing portfolio, while "the quality of the portfolio and customers’ profile represented the main reasons in our decision to close this deal."
Maria Cenusa, chief executive of ING Lease Romania, said she was confident the transaction would have a "minimal impact" on customers as the transfer of employees "will provide the same interface to clients".
ING Lease Romania was one of five European businesses, including ING Lease UK, put into run-off by parent bank ING Group in 2012 as part of restructuring strategy.
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