GRENKELEASING AG / Acquisition
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Baden-Baden, February 12, 2009: Today GRENKELEASING AG purchased all shares
in Hesse Newman & Co. AG (private bank since 1777), Hamburg, from Hesse
Newman Capital AG, Hamburg.
The loan portfolio of the Hesse Newman & Co. AG amounts to approx. EUR 20
million. The purchase will have no material impact on the equity ratio of
GRENKELEASING AG. It was agreed that no information would be disclosed on
the purchase price.
Execution of this transaction is subject to no objections being raised by
the [German] Financial Supervisory Authority (Bafin).
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Information and Explaination of the Issuer to this News:
'The acquisition of the private bank Hesse Newman & Co. AG represents a
logical and consistent extension of the product development strategy of the
GRENKE Group to become a specialist partner in the field of banking and
financial services products for small and medium-sized enterprises (SMEs).
In particular, we want to be the partner bank for roughly 130,000 existing
customers of GRENKELEASING in Germany. The objective is to organise
activities within the bank in a similarly efficient manner as we have
succeeded with our leasing operations, resulting in our ongoing favourable
cost-to-income ratio.', said Dr. Uwe Hack, Deputy Chairman of the Executive
Board of GRENKELEASING AG in explaining the takeover.
He added: 'The GRENKE Group already has a presence in twenty European
countries, and in the long run we would like to become the partner bank for
our clients across Europe.'
About GRENKE Group
GRENKE Group (incl. franchise partners) generated in 2008 a volume of new
business – i.e. the sum total of acquisition costs of newly purchased
leasing assets and factoring volume – amounting to EUR 601.0 million (2007:
EUR 509.2 million).
The GRENKE Group (incl. franchise partners) now operates in twenty European
countries.
The GRENKELEASING AG Group (excluding franchise partners) is represented in
20 German cities. In addition to nine branches in France, three in
Switzerland and three in Italy, the enterprise operates with subsidiaries
in Austria, Czechia, Spain, the Netherlands, Denmark, Sweden, Ireland,
United Kingdom, Poland and Belgium.
In the Norway, Hungary, Romania, Spain (Madrid), Portugal, Slovakia and
Finland as well as in Germany in the field of car leasing and factoring,
GRENKELEASING has a franchise system in place.
GRENKELEASING offers contracts predominantly in the field of small-ticket
IT leasing for such products as PCs, notebooks, copiers, printers or
software of a relatively low asset value.
GRENKELEASING AG shares are listed at Frankfurt Stock Exchange (SDAX) with
the code GLJ, ISIN DE0005865901.
Information on the company and its products is available on the Internet
under http://www.grenke.de.
Should you have any queries, please contact:
Renate Hauss
Tel.: 0049-7221/5007-204
Fax: 0049-7221/5007-112
Email: investor@grenke.de
Internet: http://www.grenke.de
12.02.2009 Financial News transmitted by DGAP
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Language: English
Issuer: GRENKELEASING AG
Neuer Markt 2
76532 Baden-Baden
Deutschland
Phone: +49 (0)7221 50 07-204
Fax: +49 (0)7221 50 07-112
E-mail: investor@grenke.de
Internet: www.grenke.de
ISIN: DE0005865901
WKN: 586590
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Düsseldorf, Hamburg
End of News DGAP News-Service
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