BA-CA Leasing sells its Italian subsidiaries to Fortis Lease
Today Bank Austria Creditanstalt Leasing (BA-CA Leasing), a 100 per cent subsidiary of Bank Austria Creditanstalt (BA-CA), and the Belgian-Dutch Fortis Lease Group signed an agreement on the sale of the Italian subsidiaries of BA-CA Leasing, Austria Finanza and Austrolease, to Fortis Lease. The sales price is Euro 32 million.
This transaction is a further step of Bank Austria Creditanstalt to part with assets not located in its core markets. The proceeds of this sale will go into the further expansion of our leasing network in Central and Eastern Europe.
Corporate customers of the BA-CA Group will continue to have the full support of BA-CA regarding their business in Northern Italy. Within the HVB Group BA-CA is represented in Northern Italy by the HVB branch in Milan. In the Milan branch BA-CA runs its own Austrian/CEE-Desk. Customers from Italy, Austria and CEE can still obtain support for their cross-border business there.