Corestate Capital Holding S.A.: BaFin agrees to the purchase of Hannover Leasing Group by CORESTATE
DGAP-News: Corestate Capital Holding S.A.: BaFin agrees to the purchase of Hannover Leasing Group by CORESTATE
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Takeover
16.06.2017 / 08:30
The issuer is solely responsible for the content of this announcement.
BaFin agrees to the purchase of Hannover Leasing Group by CORESTATE
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated investment manager and co-investor, in December 2016, announced the acquisition of a 94.9% stake in Hannover LEASING GmbH & Co. KG including HANNOVER LEASING Group’s affiliates. Completion of the transaction was subject to the conclusion of owner control procedures by BaFin which has been completed now. BaFin advised that there are no reasons for prohibition of the acquisition. Therefore the transaction can be closed in early July this year. The sellers are essentially the majority shareholders, Landesbank Hessen-Thüringen Girozentrale (Helaba) and Hessisch-Thüringische Sparkassen-Beteiligungsgesellschaft (HTSB). Helaba will remain as a minority shareholder with a 5.1% stake in Hannover Leasing Group.
Sascha Wilhelm, CEO of CORESTATE: “The acquisition of Hannover Leasing represents an appealing blend of contractually secured, long-term asset management returns and great potential for new business. We are expanding and diversifying our product range and improving our access to new sources of capital. Axel Wieandt consults us on matters of post-merger integration of Hannover Leasing into the CORESTATE Group.”
Thomas Groß, Vice-Chairman of the Board of Directors of Helaba: “We are pleased that CORESTATE opens up a new strategic perspective for the investment fund business of Hannover Leasing and intends to continue managing the existing investment funds of the company in a responsible manner.”
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About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with EUR 16bn* in assets under management. As a fully integrated real estate platform, CORESTATE offers its clients combined expertise in the areas of investment and fund management as well as real estate management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. CORESTATE is headquartered in Luxembourg and has 26 offices including in Dusseldorf, Frankfurt, Madrid, Singapore and Zurich. The company employs over 390 people and is listed on the Frankfurt Stock Exchange. Further information is available at www.corestate-capital.com.
*Following the completion of the Hannover Leasing Group transaction
This release may contain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at [ir.corestate-capital.com]. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.