Two separated branches of Banca Italease have formally become an integral part of the Italian lessor.
Troubled Banca Italease announced the signing of a legal agreement providing for the merger by incorporation of Leasimpresa and Italeasing, which already were part of the Group, into Banca Italease.
The merger took effect on December 15. The transactions of the incorporated companies will be booked for tax purposes to the Banca Italease’s financial statements from 1 January 2008.
Last month, a planned joint venture between Banca Italease and VR Leasing was halted by the German lessor, but company’s board of directors said it intended to continue with the revision of its industrial plan and pursue a “stand-alone” strategy.