Press release 29.03.2007

GFKL expands with takeover of English leasing business

  • Acquisition of Hanover Financial Group of Companies
  • Approximately 10,000 clients
  • Growth market of mobile payment systems


Essen, March 29, 2007 GFKL Financial Services AG has expanded its English leasing operations with the takeover of the London-based Hanover Financial Group of Companies as of March 1, 2007. The group acquired includes the Hanover Financial Group Ltd., Virtual Lease Services Ltd. and Hanover Asset Finance Ltd.
As a leasing corporation, the Hanover Group finances the acquisition of movable investment goods, especially in the so-called micro-ticket segment. The corporation’s portfolio comprises approximately 10,000 clients with a total of 16,000 agreements. The corporation sees great potential for growth in the financing of mobile payment systems (EFTPOS – Electronic Funds Transfer at Point of Sale), with which customers can for example settle invoices in restaurants (directly at the table) or in taxis. The Hanover Group cooperates with leading manufacturers in this segment.
Moreover, the Hanover Group takes over the administration of leasing portfolios for third parties and advises companies on structuring financing.
The company was founded in 1994 and employs 16 personnel. While the London office and the brand names will be retained, plans are under way to merge the individual companies with the English GFKL subsidiary Universal Leasing Ltd. Once this transaction is complete, GFKL will be employing approximately 90 personnel for its leasing business in England.

About GFKL Financial Services AG
GFKL Financial Services AG, Essen, was founded in 1992 as a leasing company, and in recent years has developed into a specialist in finance and IT services offering a very wide range of solutions. GFKL supplies services and products in the credit, collection, software and systems sectors. Based on its years of experience as a financial services company, GFKL is able to assist clients in financing investments, organizing processes and implementing measures for safeguarding liquidity during every phase of the business process. The GFKL Group employs approximately 2,400 personnel.

Media Conatct
GFKL Financial Services AG
Corporate Communications
Sven Kamerar
Limbecker Platz 1
45127 Essen
Germany

Phone: +49 (0)201/102-1192
E-Mail: pr(at)gfkl.com

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