Acquisition of CAC Leasing in Czech Republic and Slovakia completed
- Bank Austria Creditanstalt Group now market leader in the leasing business in Slovakia and in the Czech Republic
Bank Austria Creditanstalt Leasing, a wholly-owned subsidiary of Bank Austria Creditanstalt AG (BA-CA), has completed the acquisition of two leasing companies: CAC Leasing a.s. in the Czech Republic and CAC Leasing Slovakia a.s. in Slovakia. The necessary agreements were signed in Prague on 30 June. The Czech competition authorities have also given their approval. The acquisition gives BA-CA the leading position in leasing activities in the Czech and Slovak markets. BA-CA's CEO Karl Samstag: "With this step, we have further expanded our leading position in the leasing business. The BA-CA Group is represented in all countries of Central and Eastern Europe (CEE) with a complete range of financial services. After this important acquisition we will continue to pursue our consistent growth strategy in CEE.“
BA-CA Group has increased its interest in both companies to 100 per cent. Until recently, the shareholders of CAC Leasing a.s. were Komercni banka and BA-CA Leasing, with 50 per cent each. The shares in CAC Leasing Slovakia were previously held by Komercni banka (10%), Komercni banka Bratislava (20%), BA-CA Leasing (21%), CAC Leasing a.s (40%) and HVB Bank Slovakia (9%).
"By buying these two highly profitable companies, we have positioned ourselves extremely well for future investment projects of international companies," says Helmut Horvath, Managing Director of BA-CA Leasing. "As market leader we are in the ideal position to use the business potential arising from the growing inflow of direct investment," says Helmut Horvath with regard to EU enlargement.
With new business totalling EUR 437 million, CAC Leasing a.s. ranks second among leasing companies in the Czech Republic. CAC Leasing's strengths are in vehicle leasing, machinery and plant leasing, and hire purchase transactions for municipalities. In 2002, total assets reached EUR 635 million, and profits after taxes were EUR 8.6 million. CAC Leasing has 275 employees and operates a sales network of 9 branches and 9 offices in the Czech Republic.
As a universal leasing company, CAC Leasing Slovakia operates in both the commercial and retail segments. The company is the undisputed market leader in Slovakia, with a market share of 18.3 per cent. In 2002, total assets amounted to EUR 185 million, and profits after taxes were just over EUR 3.2 million. The company has 107 employees and 11 branches.
Enquiries: Bank Austria Creditanstalt Group Public Relations
Ildiko Füredi, tel. +43 (0)5 05 05 56102;
Bank Austria Creditanstalt Leasing
Marketing and Corporate Communications
Manfred Oschounig, tel. +43 (0)1 588 08 4643;