VB Leasing Czech Republic sold to GE Money Bank
VB-Leasing International Holding GmbH, a joint venture between Oesterreichische Volksbanken AG (VBAG) and VR-Leasing Aktiengesellschaft, has sold today its company in the Czech Republic. The purchaser is GE Money Bank A.S. which has its headquarters in Prague. It thereby takes over 100% of the funding of the company at par (including accrued interest). VB Leasing Czech Republic with total assets of about EUR 450 million is one of the five largest leasing companies in the Czech Republic.
With the sale of the companies in Poland and Romania in September 2014, VBAG and VR LEASING have achieved another milestone in the strategic sales process of VB-Leasing International.
Ithuba Capital, the Schönherr law firm and Deloitte acted as advisors for the seller.
VB-Leasing International is an equipment leasing specialist in Central and Eastern Europe and is headquartered in Vienna. Since 2013 its companies have been gradually sold in line with the intention of VBAG and VR-Leasing to concentrate on the domestic core business. VBLI still has companies in Slovenia, Slovakia and Bosnia and Herzegovina, for which the sales process remains ongoing.
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