Brief: Grenke Intends To Sell Factoring Companies

Grenke AG

31/01/2024 19:16

Jan 31 (Reuters) - Grenke Ag  GLJn.DE :
    * EQS-ADHOC: GRENKE INTENDS TO SELL FACTORING COMPANIES
    * SYNERGIES WITH CORE LEASING BUSINESS THAT WERE ANTICIPATED
AT
TIME OF ENTERING FACTORING BUSINESS HAVE NOT MATERIALISED
    * GRENKE INTENDS TO FULLY FOCUS ITS RESOURCES AND
INVESTMENTS ON
ADVANCING DIGITALISA-TION AND GROWTH IN LEASING BUSINESS
    * GRENKE: EXISTING FACTORING BUSINESS COULD ONLY BE OPERATED
PROFITABLY IN LONG TERM WITH ADDITIONAL INVESTMENTS & A
MULTI-FOLD INCREASE IN BUSINESS VOLUME
    * GRENKE - GRENKE BANK AG'S BANKING BUSINESS WILL CONTINUE
TO PLAY
KEY ROLE IN THIS CONTEXT, PARTICULARLY IN TERMS OF SECURING
REFINANCING VIA DEPOSITS

Source text for Eikon:  ID:nEQbSyb7va 
Further company coverage:  GLJn.DE 

 ((Reuters.Briefs@thomsonreuters.com;))