Press Releases | Dec 16, 2016
Helaba sells Hannover Leasing
- CORESTATE Capital Holding S.A. acquires shares from Helaba and HTSB
- Continuation of Hannover Leasing’s existing fund portfolio ensured
- Closing of transaction planned for middle of next year
Helaba has today agreed to the sale of its 44.2-percent stake in Hannover Leasing GmbH & Co. KG to CORESTATE Capital Holding S.A. In addition to Helaba, Hessisch-Thüringische Sparkassen-Beteiligungsgesellschaft has also finalised the sale of its 48-percent interest. The transaction is subject to approval by the relevant supervisory authorities and is expected to come into effect in the first half of 2017. Thereafter, Helaba will retain a minority interest of 5.1 percent in Hannover Leasing. Both parties have agreed not to disclose any details about the purchase price.
“We are delighted that CORESTATE is providing Hannover Leasing’s investment fund business with new strategic opportunities and will continue to manage the company’s existing fund portfolio in a responsible manner”, says Thomas Groß, Vice-Chairman of Helaba’s Board of Managing Directors. “The successful completion of the sale will enable us to focus even more closely on our core business.”
The headquarters of Hannover Leasing are located in Pullach and it currently employs around 140 people. The company offers investments in all major asset classes. The predominant share of its assets under management, which total approximately EUR 14 billion, are invested in real estate.