Romstal Leasing, the biggest independent leasing company, now that Motoractive has been bought by GE Money, plans to attract a strategic or financial investor, in a bid to profit from the bullish domestic market.
"The company's shareholders had been considering selling part of the shares to a strategic investor for some time, in order to turn Romstal Leasing into one of the main leasing companies in the country. A formal decision in this regard was made several weeks ago," stated Adrian Sambris, deputy general manager with Romstal Leasing.
A brief company description has been sent to potential investors over the past few weeks, according to Romstal Leasing officials.
"We are awaiting requests for a detailed report on the company's situation, which is due to be finalised in July," Sambris also said.
Romstal Leasing official says the company has not decided whether to sell a minority or majority stake yet.
"At present, we do not want to rule out any option, preferring to stay open to any serious proposal. We are considering both strategic investors and investment funds; it all depends on their vision," adds Sambris.
Romstal's decision comes in the context where the leasing market has witnessed several major deals over the past few years. The most recent of them is the acquisition of Motoractive, the biggest independent company on the market, by the financial services arm of General Electric giant this spring.
Most financial-banking groups have decided to develop their own leasing companies.
Romstal Leasing registered turnover worth 24.5 million euros in the first five months of this year, up 25% from last year, while its profit amounted to 1.5 million euros, up 17%. The company in the first 5 months of this year financed more than 1,700 leasing contracts worth 52.2 million euros, up 140% from the corresponding period of last year. The current portfolio is made up of approximately 6,500 contracts totally worth 166 million euros.
Romstal Leasing is owned by Romstal Imex (over 92%) and by several individuals, according to the latest information.
Leasing contracts totally worth more than 2.2 billion euros were signed on the Romanian market last year, up more than 22% year-on-year.
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