Fortis Lease and Deutsche Immobilien Leasing GmbH (DIL) yesterday signed an agreement under which Fortis Lease will acquire 100% of DIL France S.A., in Paris, in a cash transaction valued at approximately € 30 million.
Karel De Boeck, CEO of Fortis Network Banking said: “This acquisition fits in perfectly with Fortis Lease’s strategy to increase its position on the European leasing market. It will give Fortis Lease access to the promising French market for real estate leasing, in a region that is known for its dynamism and high growth potential, especially in the real estate sector. We are pleased to retain within Fortis the team of nine professionals that has been responsible for the success of DIL France.”
Thomas Rüschen, CEO of Deutsche Immobilien Leasing GmbH, Düsseldorf, said: “The sale of DIL France is part of our effort to refocus our business in Continental Europe. We are pleased that with Fortis Lease we have found a buyer that is committed to further develop the business of DIL France. Together with the Deutsche Bank’s Asset Finance and Leasing group, Deutsche Immobilien Leasing GmbH will continue to expand its franchise in selected European markets, focusing on providing advisory and structured finance solutions for different asset classes.”
This transaction is subject to the necessary approvals from the respective regulatory authorities and is expected to be finalized in the third quarter of 2004.