Corestate is purchasing a 94.9% stake in Hannover Leasing Group. The sellers are the majority shareholders, Helaba and 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 non-disclosed. Following the acquisition, the CORESTATE Group’s assets under management will total around €16bn. Helaba will remain as a minority shareholder with a 5.1% stake in Hannover Leasing Group. 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.”
