BNP Paribas Leasing Solutions has signed an agreement to provide wholesale and retail finance for Norwegian farming equipment producer Kverneland.
The deal will confirm existing agreements between the two companies in several European markets, as well as covering the extension of finance to other areas.
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A statement by BNP Paribas said Kverneland Group sees wholesale and retail finance as important elements of its professional farming service, and is confident this deal will strengthen its product line.
BNP Paribas would not reveal the markets in which the partnership would operate, but said it would be the exclusive partner for Kverneland in countries where it provided wholesale finance, while the provisions of a retail finance deal would be decided on a market by market basis.
Kverneland is looking to grow its European business and in November 2011 the company signed a distribution finance deal with GE Capital, while BNP appears to be consolidating its partner agreements, signing a deal with construction equipment manufacturer Doosan in late January.
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