There was no information about the purchase price. The buyer is the German DORI Vermögensverwaltungs GmbH.
The autobank, which is about to expire, is selling its subsidiary adesion Factoring. The share of 36 percent goes to DORI Vermögensverwaltungs GmbH, the management company of the Nuremberg Leasing Group, announced the Autobank on Monday evening. In September it became known that the bank had found a buyer for the daughter.
The parties agreed not to disclose the purchase price, but it was higher than the book value of the stake in the Autobank, according to the broadcast. The Autobank's silent participations in adesion – they stood at 1.5 million euros in September – are to be phased out from the 2022 financial year.
In addition to the purchase, DORI will carry out a capital increase at adesion Factoring. After completion of the purchase and the capital increase, the company will hold the majority in adhesion. Regulators have yet to approve both transactions.
At the beginning of January it became known that the crisis-ridden automotive bank wanted to conduct its business in an orderly manner. Previously, the third and last potential investor had dropped out for the bank.
