Back to newsIthuba Capital AG („Ithuba Capital“) advised immigon portfolioabbau ag („immigon“, folmerly Österreichische Volksbanken AG) on the strategic sale of Volksbank Leasing Finanzierungsgesellschaf m.b.H. Group („VBLF Group“) to Bawag Leasing GmbH. Immigon had previously held a 100% stake in VBLF Group via its subsidiary Unternehmensbeteiligungs Gesellschaft mit beschränkter Haftung. The relevant sale and purchase agreement was executed on 12 August 2015. Closing took place on 5 October 2015 after all regulatory approvals had been granted.
VBLF Group, a specialist in movables leasing, is among the top leasing companies in Austria with total assets of ca. EUR 720 million. At closing, the purchaser replaced 100% of the refinancing of VBLF Group of approximately EUR 650 million. Details with regard to the purchase price were not disclosed.
The Ithuba team advising immigon consisted of Thomas Mayer, Matthias Lauermann and Marlene Johler. Schönherr attorneys-at-law acted as legal counsel to immigon.