P+P advises Deutsche Leasing on the acquisition of Deutsche Factoring Bank
Deutsche Leasing acquired 53 percent of the shares in Deutsche Factoring Bank from four previously involved regional banks (Bayerische Landesbank, Bremer Landesbank, Norddeutsche Landesbank and Landesbank Saar). The implementation of the transaction is subject to approval by the relevant authorities.
The factoring activities of Universal Factoring, which is located in Ratingen and is already part of the Deutsche Leasing Group, will be merged with those of Deutsche Factoring Bank in Bremen. The new company will continue to operate under the brand name 'Deutsche Factoring Bank in Bremen and Ratingen'. The new company will be headquartered in Bremen. The purpose of the grouping is to establish a factoring provider for the Sparkassen Finance Group.
In addition to Deutsche Leasing, the privately-owned saving banks, including HASPA Finanzholding, with a 35 percent stake and Berliner Sparkasse with a 12 percent stake, remain shareholders of the Deutsche Factoring Bank.
The Deutsche Leasing Group is an asset finance and asset service partner for German mid-sized companies (Mittelstand). In the future, Deutsche Factoring Bank will form the "Competence Center " within the Sparkassen Finance Group. The product offering is designed for small and medium-sized businesses.
P+P Pöllath + Partners advised Deutsche Leasing on all legal, tax and regulatory matters related to the transaction with the following team in all locations: