No joint venture between VR LEASING and Banca Italease

Eschborn, (PresseBox) - The intended joint venture between VR-LEASING AG, the German financial services group, headquartered in Eschborn, and Italian Banca Italease will not be put into practice. As stated Reinhard Gödel, Chairman of the VR LEASING executive board, the reason is that due to the difficult market environment, VR LEASING will not proceed with the joint venture despite satisfactory results of due diligence. "We have come to the conclusion that a joint venture currently cannot be put into practice", said Gödel.

Banca Italease, company listed on Milan Stock Exchange, is a leading Italian player in the specialty financial services sector, particularly in leasing and factoring businesses. In 2007, the group ranked third in the leasing sector, with a market share of 12.0%, and second in the factoring market, with a share of 16.7%. Today, the company has a market cap equal to approximately 950 euro million and total assets amount to 25.1 euro billion as of 31 March 2008.


The VR LEASING Group* is a member of FinanzVerbund, the cooperative financial association of providers of innovative financial solutions especially designed for European small and medium-sized businesses. The VR LEASING group's modular product portfolio covers the entire spectrum of sales and investment funding, supplemented by a range of services.

* The VR LEASING Group comprises BFL Leasing, Lombard Pénzügyi és Lízing, Hungary, VB-LEASING International Holding, Vienna, FB-LEASING OOO, Moscow, VR BAUREGIE, VR DISKONTBANK, VR FACTOREM, VR medico LEASING GmbH.

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