HVB Leasing Croatia Locat Leasing Croatia to Merge into One Company

5. Oktober 2006, 00:00

Italys Locat Leasing and Bank Austria Creditanstalt Leasing, members of the group UniCredit, initiated an integration...

Italys Locat Leasing and Bank Austria Creditanstalt Leasing, members of the group UniCredit, initiated an integration process covering their two companies in Croatia: Locat leasing Croatia and HVB leasing Croatia. New company will represent the second-largest leasing company in Croatia with total assets worth approximately EUR 500 million, market share of 20 per cent and with more than 14,000 signed contracts.

The structure of products and services will include leasing of vehicles and vessels, machines and equipment, real estate, and insurance representation. Evaluation of the structure of the future company will be completed by the end of 2006. Until the full merger both companies will continue to operate independently.

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