Site Search

DEUTSCH All Languages

Companies in the News

GFKL Financial Services AG (FRA:GFS1) Conclusion Of The Sale Of Universal Leasing Ltd.

GFKL Financial Services AG (FRA:GFS1) - Sale of 75 per cent of Universal Leasing Ltd. within the framework of a management buyout - Another move towards shifting the focus towards the profitable core business segments Receivables Management and Software

Essen, 14 January 2009: GFKL Financial Services AG has concluded the previously announced sale of its Leasing business in the United Kingdom. Seventy five per cent of the business was sold on 31st December 2008 within the framework of a management buyout. It has been agreed to keep the purchasing price tightly under wraps.

GFKL Financial Services AG Chief Executive Officer, Dr. Peter Jänsch to the reasons for selling: "The shift in the underlying conditions governing the financial markets is the main reason for the gradual separation of the Leasing portfolio. The refinancing situation has deteriorated to such an extent that our Leasing business's position, as well as security for the refinancing process has been compromised." Within the framework of its strategic repositioning process, GFKL has already concluded the sale of its Systems portfolio and is currently working on the gradual separation of its Credit portfolio. In future the Group will be focussing on its profitable Receivables Management (Collection Services/Factoring) and Software portfolios.

Dr. Peter Jänsch: "The sale of Universal Leasing Ltd. has made it possible for us to make good progress with the restructuring process and because of its rapid conclusion we can now focus fully on the planned expansion of our profitable core business areas of Receivables Management and Software." Operating results for the 2008 financial year in GFKL's core business areas are expected to be very favourable.

About GFKL Financial Services AG GFKL is a modern financial service provider with the divisions Receivable Management and Software. In the Receivable Management division GFKL offers collection and factoring services. The Collection expertise ranges from the trust management of commercial and credit receivables through to evaluating, taking over and handling personal loans and mortgages. Servicing receivables worth over 20 billion euro, GFKL is one of Germany's leading collection service providers. In the area of technology, GFKL offers modern software solutions for the entire bank lending process and all links of the insurance value chain, rounded out with solutions for automated collection procedures for industry and the public sector.

Media contact: Katrin Schwarz Head of Group Communication and Investor Relations Tel.: +49 (0)201/102-1192 Fax: +49 (0)201/102-1102-462 Email: katrin.schwarz@gfkl.com Internet: www.gfkl.com

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

LINK: http://hugin.info/138094/R/1282124/286847.pdf

GFKL Financial Services AG

http://www.gfkl.com

ISIN: DE000A0EZFF5

Stock Identifier: GER.TEST

Verbundene Unternehmen

GFKL Financial Services AG

ABN Newswire Diese Seite wurde besucht: (letzten 7 Tagen: 3) (letzten 30 Tagen: 9) (seit Veröffentlichung: 1267)