Schoenherr advises VB-Leasing International on sale of Slovak leasing business to CSOB Leasing
Schoenherr advised VB-Leasing International (VBLI), the joint venture between Österreichische Volksbanken-AG (ÖVAG) and Germany's VR-Leasing AG, on the sale of VB Leasing Slovakia to CSOB Leasing, a. s., a subsidiary of Belgium's KBC Group, and on the replacement of 100% of the shareholder funding at par (including accrued interest) by the KBC Group. The relevant agreement was executed on 1 July 2015. With the sale, ÖVAG and VR-Leasing have achieved another milestone in their strategic re-alignment to focus on their core business.