By Jean-Baptiste André Published on 10/31/2024 at 8:10 a.m.
Photo credit © Crédit Agricole / Pierre Suze
(Boursier.com) — Crédit Agricole Leasing & Factoring is accelerating the development of its activity in Germany. CAL&F has signed a binding agreement subject to obtaining the necessary regulatory authorizations for the acquisition of Merca Leasing, ranked in the Top 10 independent leasing companies in Germany. This operation is part of CAL&F’s development strategy, which aims to complete its offering on the European market and particularly on the dynamic German leasing market. The amount of the operation has not been disclosed.
Established in 1989, Merca Leasing is based in Kronberg, near Frankfurt, with branches located in Hamburg and Berlin. Merca Leasing offers SMEs tailor-made leasing solutions with strong expertise in financing industrial equipment, through a direct channel. A partner of the German manufacturing industry for more than three decades, Merca Leasing today manages an asset portfolio of approximately 750 ME (gross asset value).
CAL&F has been present in the German factoring market for more than 30 years and in leasing since 2020, via its CAL&F Germany branch. With the acquisition of Merca Leasing, CAL&F is expanding its footprint in the particularly dynamic German leasing market: 3 out of 4 companies integrate leasing solutions into their investment plans, this method of financing being considered a catalyst for innovation for SMEs. By integrating the expertise of Merca Leasing, CAL&F is accelerating its European development and expanding its offering, particularly in terms of Mobility, IT and Machine Tools. It is also an opportunity for CAL&F to strengthen its position on the Direct channel, while gradually opening new distribution channels, such as the Vendor Program.
The signing took place on October 30, after consultation with staff representative bodies. The transaction is expected to be finalized in early 2025, subject to obtaining the required authorizations from BaFin and the German Competition Authority. The impact on Crédit Agricole SA’s CET1 ratio following the transaction is not significant.
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