GRENKE AG
GRENKELEASING AG: GRENKELEASING AG takes over Hesse Newman & Co. AG (private bank since 1777)
GRENKELEASING AG / Acquisition Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Baden-Baden, February 12, 2009: Today GRENKELEASING AG purchased all shares in Hesse Newman & Co. AG (private bank since 1777), Hamburg, from Hesse Newman Capital AG, Hamburg. The loan portfolio of the Hesse Newman & Co. AG amounts to approx. EUR 20 million. The purchase will have no material impact on the equity ratio of GRENKELEASING AG. It was agreed that no information would be disclosed on the purchase price. Execution of this transaction is subject to no objections being raised by the [German] Financial Supervisory Authority (Bafin). --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: 'The acquisition of the private bank Hesse Newman & Co. AG represents a logical and consistent extension of the product development strategy of the GRENKE Group to become a specialist partner in the field of banking and financial services products for small and medium-sized enterprises (SMEs). In particular, we want to be the partner bank for roughly 130,000 existing customers of GRENKELEASING in Germany. The objective is to organise activities within the bank in a similarly efficient manner as we have succeeded with our leasing operations, resulting in our ongoing favourable cost-to-income ratio.', said Dr. Uwe Hack, Deputy Chairman of the Executive Board of GRENKELEASING AG in explaining the takeover. He added: 'The GRENKE Group already has a presence in twenty European countries, and in the long run we would like to become the partner bank for our clients across Europe.' About GRENKE Group GRENKE Group (incl. franchise partners) generated in 2008 a volume of new business – i.e. the sum total of acquisition costs of newly purchased leasing assets and factoring volume – amounting to EUR 601.0 million (2007: EUR 509.2 million). The GRENKE Group (incl. franchise partners) now operates in twenty European countries. The GRENKELEASING AG Group (excluding franchise partners) is represented in 20 German cities. In addition to nine branches in France, three in Switzerland and three in Italy, the enterprise operates with subsidiaries in Austria, Czechia, Spain, the Netherlands, Denmark, Sweden, Ireland, United Kingdom, Poland and Belgium. In the Norway, Hungary, Romania, Spain (Madrid), Portugal, Slovakia and Finland as well as in Germany in the field of car leasing and factoring, GRENKELEASING has a franchise system in place. GRENKELEASING offers contracts predominantly in the field of small-ticket IT leasing for such products as PCs, notebooks, copiers, printers or software of a relatively low asset value. GRENKELEASING AG shares are listed at Frankfurt Stock Exchange (SDAX) with the code GLJ, ISIN DE0005865901. Information on the company and its products is available on the Internet under http://www.grenke.de. Should you have any queries, please contact: Renate Hauss Tel.: 0049-7221/5007-204 Fax: 0049-7221/5007-112 Email: investor@grenke.de Internet: http://www.grenke.de 12.02.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: GRENKELEASING AG Neuer Markt 2 76532 Baden-Baden Deutschland Phone: +49 (0)7221 50 07-204 Fax: +49 (0)7221 50 07-112 E-mail: investor@grenke.de Internet: www.grenke.de ISIN: DE0005865901 WKN: 586590 Indices: SDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Düsseldorf, Hamburg End of News DGAP News-Service ---------------------------------------------------------------------------
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