grenke and INTESA SANPAOLO form strategic partnership in Italy

EQS-Ad-hoc: grenke AG / Key word(s): Alliance grenke and INTESA SANPAOLO form strategic partnership in Italy 28-Jan-2025 / 15:03 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group. The issuer is solely responsible for the content of this announcement. grenke and INTESA SANPAOLO form strategic partnership in Italy

Baden-Baden, January 28, 2025: grenke AG, the market leader in Europe for small-ticket leasing, and Italy’s largest bank, INTESA SANPAOLO S.p.A. (ISP), today announced a strategic partnership to serve the Italian market for operating leases. Under the agreement, by mid-2025 Intesa Sanpaolo Rent ForYou S.p.A. (RFY), a subsidiary of ISP, will be contributed in full to grenke Locazione S.r.L., grenke’s Italian subsidiary. In exchange, ISP will receive a 17% equity stake in grenke Locazione. In addition, the partners agreed on the collaboration with ISP’s branch network and its approximately 1.2 million business customers for the duration of the agreement. The shareholders will jointly assume the refinancing of future activities.

The partnership is still subject to the approval of the relevant authorities. The completion of the trans-action is expected to take place by the end of the first quarter of 2025.

grenke’s business model, which focuses on small-ticket leasing for contracts with acquisition values averaging below EUR 10,000, remains unchanged. The cooperation is designed to enhance the competitive position in this segment of both companies, drive growth, and increase their combined market share.

Further information is available from

Investor contact

Franziska Randt
Neuer Markt 2
76532 Baden-Baden
[phone]
[e-mail]
 

Press contact

Stefan Wichmann
Neuer Markt 2
76532 Baden-Baden
[phone]
[e-mail]

End of Inside Information

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28-Jan-2025 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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Language:	English
Company:	grenke AG
	Neuer Markt 2
	76532 Baden-Baden
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.grenke.de
ISIN:	DE000A161N30
WKN:	A161N3
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	2076345

End of Announcement	EQS News Service

2076345  28-Jan-2025 CET/CEST