Corestate takes over Hannover Leasing

Corestate Capital Holding S.A. buys 94.9 percent of the shares in the Hannover Leasing Group. The sellers are mainly the majority shareholders Landesbank Hessen-Thüringen Girozentrale (Helaba) and Hessisch-Thüringische Sparkassen-Beteiligungsgesellschaft (HTSB). Helaba remains a minority shareholder with a 5.1 percent stake in Hannover Leasing.

The closing of the transaction is still subject to the completion of the owner control procedure by BaFin, which is expected for the first half of 2017. The parties have agreed not to disclose the purchase price.

The assets under management of the Corestate Group amount to approximately 16 billion euros after the acquisition.

"Extensive revitalization" planned for Hannover Leasing

Hannover Leasing is an asset manager and provider of tangible asset investments in Germany and, as a licensed capital management company, offers closed-end public AIFs (alternative investment funds).

Since its founding in 1981, the company has raised approximately €9.9 billion in equity capital for more than 200 closed-end investments from private and institutional investors. In its investments, Hannover Leasing focuses primarily on real estate in Germany and abroad as well as public infrastructure projects. The total investment volume of assets under management amounts to around €13.6 billion.

Sascha Wilhelm, CEO of Corestate, says: "The acquisition of Hannover Leasing represents an attractive combination of contractually secured, long-term asset management revenues and great potential for new business. Within the Hannover Leasing Group, we are planning an extensive revitalization program to make the most of the synergies." (ah)