DGAP-News: IKB Deutsche Industriebank AG/HPS Investment Partners, LLC: IKB Deutsche Industriebank AG sells IKB Leasing Group to HPS Investment Partners
DGAP-News: IKB Deutsche Industriebank AG / Key word(s): Disposal
IKB Deutsche Industriebank AG/HPS Investment Partners, LLC: IKB Deutsche Industriebank AG sells IKB Leasing Group to HPS Investment Partners
29.06.2017 / 09:00
The issuer is solely responsible for the content of this announcement.
IKB Deutsche Industriebank AG sells IKB Leasing Group to HPS Investment Partners
[Düsseldorf, 29 June 2017] IKB Deutsche Industriebank AG today agreed the sale of the IKB Leasing Group to investment funds managed by HPS Investment Partners, LLC ("HPS"). The transaction is subject to the approval of the banking supervisory authorities and is expected to come into effect in the second half of 2017. It was agreed that the purchase price would not be disclosed. With the sale of the IKB Leasing Group, IKB advances the focus on its core business with upper mid-market companies.
IKB Leasing has approximately 23,000 customers with over 67,000 leases, primarily to SMEs. Based in Hamburg, the IKB Leasing Group consists of 14 leasing companies in ten European countries and has approximately 500 employees.
HPS, through its European Asset Value Funds, invests in performing financial asset portfolios and platforms with origination and servicing capabilities. HPS seeks to take advantage of strategic shifts in the European specialty finance sector, where regulatory-induced deleveraging may be leading banks to divest of capital intensive and non-core portfolios and platforms.
Contact:ir@hpspartners.com
Dr Jörg Chittka, Corporate Communications, tel.: +49 211 8221-4349,
Armin Baltzer, Corporate Communications, tel.: +49 211 8221-6236,
E-mail: presse@ikb.de HPS is a leading global investment firm with a focus on non-investment grade credit. Established in 2007, HPS has over 110 investment professionals and over 260 total employees as of June 2017. HPS is headquartered in New York with eleven additional offices globally. As of June 2017, HPS had approximately $41 billion of assets under management.IKB Deutsche Industriebank AG supports medium-sized enterprises with loans, risk management, capital market services and advisory services.
29.06.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
IKB Deutsche Industriebank AG
Wilhelm-Bötzkes-Straße 1
40474 Düsseldorf
Germany
Phone:
+49 (0)211 8221-4511
Fax:
+49 (0)211 8221-2511
E-mail:
investor.relations@ikb.de
Internet:
www.ikb.de
ISIN:
DE0008063306
WKN:
806330
Listed:
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Open Market in Frankfurt
End of News
DGAP News Service
587523 29.06.2017