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KBC takes over Romstal Leasing in €70 mln deal

KBC Lease, part of the Belgian KBC group, finalized the take over of 99.34% of the stock at Romanian company Romstal Leasing. KBC also took over the INK insurance broker, according to ActusNewsWire.

Through this moves, KBC follows its expansion strategy targeting the Central and Eastern Europe. Romstal Leasing held at the end of 2006 4.2% of the Romanian leasing market and ranked 13 in the top of major companies. Belgian group KBC is active in banking and insurance in Poland, Slovakia, Hungary, Slovenia and the Czech Republic. (portalino.it)