June 27 (SeeNews) - Slovenia's second largest lender Abanka said on Monday it is launching a procedure for the sale of its 100%-owned leasing subsidiary Aleasing.
The bank is looking for a strategic investor that is willing to take over the equity holding and the entire lending exposure of Aleasing d.o.o. Ljubljana, it said in a bourse filing.
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Aleasing, which offers both financial and operating leasing services, concluded 1,771 new contracts valued at 26.22 million euro ($28.9 million) last year. The major portion of the value of new investments relate to the financing of vehicles (84%), followed by machinery and equipment (15%) and real estate (1%), Abanka noted.
Aleasing reported a net profit of 15.7 million euro for 2015, recovering from a loss of 64.6 million euro in 2014. Its total assets stood at 41 million euro at end-2015.
In 2013, the Slovenian government had to step in and recapitalise Abanka with 348 million euro whilst also seizing control of the bank. In October 2015, Abanka and its state-owned peer Banka Celje merged with Abanka as the acquiring company.
($=0.9068 euro)