Equipment Finance Sponsored by Equipment Finance News grenke and INTESA SANPAOLO form partnership in Italy Published: 30th January 2025 Share grenke AG and INTESA SANPAOLO S.p.A. (ISP), Italy’s largest bank, have 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 transaction 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 €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. Dr Sebastian Hirsch, CEO of grenke, said: “The strengths and objectives of Intesa Sanpaolo and grenke complement each other perfectly, creating an excellent foundation for jointly leveraging our forces in a strategic partnership.” In the past financial year, Italy generated new business of more than €400 million and was the third-largest market, after France and Germany, across the grenke Group’s operations spanning more than 30 countries. Future new business in Italy is expected to reach double-digit growth rates in the coming years. Lisa Laverick Editor - Asset Finance Connect Sign up to our newsletter Featured Stories NewsNew finance company to support construction industry NewsKION Group posts strong FY2024 financial results NewsCat Financial posts robust 2024 year-end results Equipment Finance