LLeditor

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.