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grenke AG
ISIN: DE000A161N30
WKN: A161N3
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grenke AG · ISIN: DE000A161N30 · EQS - adhoc news (136 News)
Country: Germany · Primary market: Germany · EQS NID: 2076345
28 January 2025 03:03PM

grenke and INTESA SANPAOLO form strategic partnership in Italy


EQS-Ad-hoc: grenke AG / Key word(s): Alliance
grenke and INTESA SANPAOLO form strategic partnership in Italy

28-Jan-2025 / 15:03 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this announcement.


grenke and INTESA SANPAOLO form strategic partnership in Italy

Baden-Baden, January 28, 2025: grenke AG, the market leader in Europe for small-ticket leasing, and Italy’s largest bank, INTESA SANPAOLO S.p.A. (ISP), today announced a strategic partnership to serve the Italian market for operating leases. Under the agreement, by mid-2025 Intesa Sanpaolo Rent ForYou S.p.A. (RFY), a subsidiary of ISP, will be contributed in full to grenke Locazione S.r.L., grenke’s Italian subsidiary. In exchange, ISP will receive a 17% equity stake in grenke Locazione. In addition, the partners agreed on the collaboration with ISP’s branch network and its approximately 1.2 million business customers for the duration of the agreement. The shareholders will jointly assume the refinancing of future activities.

The partnership is still subject to the approval of the relevant authorities. The completion of the trans-action is expected to take place by the end of the first quarter of 2025.

grenke’s business model, which focuses on small-ticket leasing for contracts with acquisition values averaging below EUR 10,000, remains unchanged. The cooperation is designed to enhance the competitive position in this segment of both companies, drive growth, and increase their combined market share.

Further information is available from

Investor contact

Franziska Randt
Neuer Markt 2
76532 Baden-Baden
+49 7221 5007 8611
investor@grenke.de
 

Press contact

Stefan Wichmann
Neuer Markt 2
76532 Baden-Baden
+49 171 2020300
presse@grenke.de



End of Inside Information

28-Jan-2025 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: grenke AG
Neuer Markt 2
76532 Baden-Baden
Germany
Phone: +49 (0)7221 50 07 8611
Fax: +49 (0)7221 50 07-4218
E-mail: investor@grenke.de
Internet: www.grenke.de
ISIN: DE000A161N30
WKN: A161N3
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 2076345

 
End of Announcement EQS News Service

2076345  28-Jan-2025 CET/CEST

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Contact:
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+49 (0) 89 444 430-000

 

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