Corestate Capital Holding S.A.: CORESTATE purchases Hannover Leasing Group from Helaba and HTSB
CORESTATE purchases Hannover Leasing Group from Helaba and HTSB
- CORESTATE Capital Holding S.A. purchases 94.9% of Hannover Leasing Group
- Following completion of the transaction, CORESTATE's assets under management will grow to around EUR 16bn
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated real estate investment manager and co-investor, is purchasing a 94.9% stake in Hannover Leasing Group. The sellers are essentially the majority shareholders, Landesbank Hessen-Thüringen Girozentrale (Helaba) and Hessisch-Thüringische Sparkassen-Beteiligungsgesellschaft (HTSB). Completion of the transaction is still subject to the conclusion of owner control procedures by BaFin, which is expected to occur in the first half of 2017. It has been agreed that the purchase price shall remain undisclosed. Following the acquisition, the CORESTATE Group's assets under management will total around EUR 16bn. Helaba will remain as a minority shareholder with a 5.1% stake in Hannover Leasing Group.
Hannover Leasing is one of the leading asset managers and providers of asset-based investments in Germany, and offers closed public AIFs (alternative investment funds) as a licensed capital management company. Since it was founded in 1981, the company has succeeded in raising equity capital of around EUR 9.9bn from private and institutional investors for over 200 closed investments. Hannover Leasing's investments are focused primarily on real estate opportunities on the domestic and overseas markets, as well as public infrastructure projects. In recent years, Hannover Leasing Group generated predominantly long-term contracted sales from established fund structures. The total investment volume of assets under management comes to around EUR 13.6bn.
Sascha Wilhelm, CEO of CORESTATE: "The acquisition of Hannover Leasing represents an appealing blend of contractually secured, long-term asset management returns and great potential for new business. We are expanding and diversifying our product range and improving our access to new sources of institutional capital. Within the Hannover Leasing Group, we are planning a comprehensive revitalisation programme to enable optimum use of synergies."
Thomas Groß, Deputy Chief Executive Officer of Helaba: "We are very pleased that CORESTATE will open up a new strategic perspective for Hannover Leasing's fund business and will continue to lead the company's existing funds portfolio responsibly."
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CORESTATE Capital Holding S.A. CORESTATE Capital Holding S.A. is a fully integrated real estate investment manager and co-investor seated in Luxembourg that also has offices inter alia in Frankfurt, Zurich, Madrid and Singapore. Since foundation of CORESTATE in 2006 the generated transaction volume amounts to approximately EUR 5.7 billion. CORESTATE accompanies its customers along the entire value creation chain of a real estate investment product and covers, in particular, deal sourcing and the development of investment products, structuring and execution of transactions, real estate investment management services and the development and execution of exit strategies. Since October 2016 the group is listed on the Frankfurt Stock Exchange via the Entry Standard.
Forward-Looking Statements This release may contain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at [ir.corestate-capital.com]. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
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Language: English Company: Corestate Capital Holding S.A. 35 avenue Monterey L-2163 Luxembourg Grand Duchy of Luxembourg Phone: +352 (26) 637222 Fax: +352 (26) 637245 E-mail: firstname.lastname@example.org Internet: www.corestate-capital.ch ISIN: LU1296758029 WKN: A141J3 Listed: Regulated Unofficial Market in Berlin, Tradegate Exchange; Open Market in Frankfurt (Entry Standard)
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