02.01.2005 – 12:00
KfW acquires 50% Stake in IKB Immobilien Leasing GmbH
KfW has acquired for its future subsidiary KfW IPEX-Bank a 50% stake in IKB Immobilien Leasing GmbH, thus far a 100% subsidiary of IKB Deutsche Industriebank AG in Düsseldorf, as of January 1, 2005. The holding will be transferred to KfW IPEX-Bank once it begins operating as an independent bank as of January 1, 2008.
The 50:50 joint venture will initially retain the name IKB Immobilien Leasing GmbH. It marks the entry of KfW IPEX-Bank into active leasing operations, where previously it had been involved solely as refinancier. For IKB Immobilien Leasing GmbH it will open up an opportunity to tap new customer segments, offer new products and push the internationalisation of its business.
The joint venture will benefit from the know-how of both partners. During the course of the past few years IKB Immobilien Leasing, which is well established in the market, has developed into a global player in new building leasing for the small and medium-sized enterprise segment, attaining a contract volume of approx. EUR 3.7 billion (as of September 30, 2004). With its some 80 employees, the company has extensive structuring competence that since extends far beyond the real estate business. Its offers include large-volume leasing structures for construction and engineering as well as the development of individual investment outsourcing solutions for the automobile industry.
KfW IPEX-Bank, as a specialist in worldwide tailor-made export and project financing, is opening up new perspectives for possible transaction volumes and contributing its vast international experience. Based on this broad experience, the activities under the joint venture will gradually be extended to other European countries.
With the backing of both parent companies, IKB Immobilien Leasing will be able to exploit additional business potential. Currently a growing number of enterprises are choosing leasing structures as an interesting financing alternative for capital goods that has the added advantage of being beneficial for their balance sheet.
Original content of: KfW, transmitted by news aktuell