Corestate, a fully integrated real estate investment manager and co-investor, is purchasing a 94.9% stake in Hannover Leasing Group.
The sellers are essentially the majority shareholders, Helaba and Hessisch-Thuringische Sparkassen-Beteiligungsgesellschaft. Completion of the transaction is still subject to the conclusion of owner control procedures by BaFin, which is expected to occur in the first half of 2017. It has been agreed that the purchase price shall remain undisclosed.
Following the acquisition, the Corestate Group's assets under management will total circa €16bn. Helaba will remain as a minority shareholder with a 5.1% stake in Hannover Leasing Group.
Hannover Leasing is one of the leading asset managers and providers of asset-based investments in Germany, and offers closed public alternative investment funds as a licensed capital management company. Hannover Leasing's investments are focused primarily on real estate opportunities on the domestic and overseas markets, as well as public infrastructure projects.
