Banca Italease SpA, the Italian lessor that experienced large
derivative losses in 2007, may be acquired by US private equity
fund JC Flowers & Co, a domestic newspaper reported.
Although German cooperative bank, DZ Bank is already in talks to
buy the company, there is also the possibility that DZ Bank and JC
Flowers combine forces, given that Italease has a market
capitalisation of €1.2bn.
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Chairman of Italease, Lino Benassi, said the company has
received several expressions of interest. But, JC Flowers has the
advantage of already being active in leasing, mainly of boats, in
northern Europe and Germany.
Italian bank, Banco Populare, has the largest stake in Italease
of 30.72 per cent.
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