The merger between Commerzbank and
Dresdner Bank has triggered a major reorganisation within the
leasing activities of the group.
The Commerzbank-owned company which operates
in real estate leasing is currently undergoing a restructuring, but
it is not known exactly in what direction this could evolve,
according to a Commerz Real spokesperson.
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She said: “This is all part of the major
restructuring of the new Commerzbank. Things are currently under
way and no decision has been made yet about the new structure.”
Dresdner Bank, which controls 45 percent of
KGAL, was acquired in January by Commerzbank, after several months
of negotiations and a state intervention through the SoFFin plan,
which gave the German government control of 25 percent of
Commerzbank’s shares.
According to KGAL, which is one of Germany’s
largest leasing companies, the impact of the merger on its
activities cannot be assessed to this date, although it said it
expected to have a key role in the new group.
A KGAL spokeswoman explained: “KGAL has had
several shareholders – Dresdner Bank, BayernLB, Hamburger Sparkasse
and Sal Oppenheim – for many years.
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By GlobalData“They all estimate KGAL to be a successful and
profit-making investment.”
The spokeswoman added that because of KGAL’s
variety of financial services – structured finance as well as funds
and asset management – it was necessary to wait and see “whether
the new situation will affect co-operation and dealings and to what
extent”.
