heavily on foreign investment, recorded profits of RUR14bn
(€379.5m) in 2007.
Its commercial vehicle business saw particular growth with its
truck leasing arm grew 170 per cent to 4,218 vehicles, while
“special” vehicles went up 130 per cent to 2,116.
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Last week the lessor received a €15.8m loan from ICICI Bank (UK)
PLC, the UK subsidiary of ICICI Bank, India’s second largest bank,
which Europlan plans to use in order to buy and lease cars and
equipment.
As well as specialising in real estate and equipment leasing,
Europlan is also one of Russia’s largest car leasing companies with
vendor finance programmes with Mercedes-Benz, Mitsubishi, Nissan,
Renault, PSA and Volkswagen.
The three year loan from ICICI follows a series of recent
borrowings by Europlan, including a €60m financing from KfW
IPEX-Bank and a $110m (€69.6m) senior secured amortising term loan
facility from Citigroup, Raiffeisenbank and Credit Europe.
Europlan was founded in 1999 and is owned by Baring Vostok
Capital Partners and Capital International Inc. It signs around
2,000 contracts per month and has around 25,000 vehicles on
lease.
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