Gleiss Lutz advises BAWAG Group on acquisition of BFL Leasing
Eschborn/ Vienna - Gleiss Lutz advised BAWAG Group on the conclusion of a binding agreement for the full acquisition of BFL Leasing GmbH from BFL Gesellschaft des Bürofachhandels mbH & Co KG. The majority shareholder is VR-LEASING AG. The closing of the transaction is subject to customary regulatory approvals. The parties have agreed not to disclose the purchase price or the details of the contract.
BFL Leasing GmbH, headquartered in Eschborn near Frankfurt, Germany, is a specialized financing provider offering leasing services and products for technology and equipment since 1973. The company complements the BAWAG Group’s business model with its sales model and at the same time offers the opportunity to grow in the leasing business in Germany.
BFL Leasing GmbH currently employs around 75 people, and its total assets amounted to around EUR 600 million at the end of 2017. For more than 40 years, BFL Leasing GmbH has been developing financing solutions for retail and system houses as well as manufacturers. Today, it has more than 140 partners and, with its sales partners and around 50,000 customers, is one of the leading IT financing specialists in Germany. As a subsidiary of VR-LEASING Aktiengesellschaft, BFL is part of the Genossenschaftliche FinanzGruppe, the second largest banking group in Germany.
BAWAG Group AG is the listed holding company of BAWAG P.S.K., headquartered in Vienna, and its main banking subsidiaries easybank and start:bausparkasse in Austria and Südwestbank in Germany. With more than 2.5 million customers, BAWAG P.S.K. is one of the largest banks in Austria and has a nationally recognized brand. BAWAG Group reported total assets of around EUR 46 billion at the end of 2017.
Advisor BAWAG: Gleiss Lutz
Led by Dr. Jan Balssen (Partner, Corporate/M&A); Dr. Olaf Hohlefelder, Stephanie Dausinger (both Corporate/M&A), Steffen Carl (Partner), Dr. Tobias Harzenetter (Counsel, both Corporate, all Munich), Dr. Alexander Molle (Counsel), Dr. Matthias Schilde, (both IP/IT, Berlin), Anselm Christiansen (Stuttgart, Corporate/M&A), Dr. Stefan Mayer (Partner), Dr. Ocka Stumm (both Tax), Dr. Jens Günther (Partner), Dr. Matthias Böglmüller (both Labor), Dr. Iris Benedikt-Buckenleib (Counsel, Antitrust, all Munich), Dr. Timo Bühler (Banking Regulatory), Dr. Burkhard Jäkel (Partner), Vanessa Bayliss (Counsel), Dr. Mohamed Assakkali (all Finance/Leasing), Dr. Philip Naab (Counsel, Real Estate), Dr. Dirk
Scherp (Of Counsel), Marina Stoklasa (both Compliance & Investigations, all Frankfurt), Dr. Jacob von Andreae (Partner), Aylin Hoffs (both Düsseldorf, Public Law), Simon Wegmann (Data Protection Law, Berlin) Dr. Britta Kamp (Commercial Contracts, Stuttgart).