Polish finance company Getin Holding has agreed to purchase 100% of the shares of Austrian VB Leasing’s subsidiaries VB Leasing Polska and VB Leasing Romania.
As part of the agreement, Getin will pay PLN111m (26.5m) for VB Leasing Polska and PLN52m for VB Leasing Romania.
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Getin will also ensure sufficient funds are available to guarantee the two companies are able to repay VB Leasing’s financing of them, currently estimated at PLN3.2bn.
According to Getin, BB Leasing Romania is among the six biggest leasing companies in the country, and the company recorded PLN50m profits in 2013. It has a network of seven branches in Romania.
VB Leasing Polska is the largest heavy transport lessor in Poland, and ranks as one of the top ten leasing companies. In 2013, it recorded PLN85m in profits, and the total value of its leased out assets was almost PLN 1.4bn.
Before the deal can be finalised it needs to obtain consent from a number of Polish and Romanian bodies.
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By GlobalDataGetin said it was unable to comment further when approached by Leasing Life, but it will detail its plans for the newly acquired businesses once the deal is finalized, by the third quarter of 2014.
