DGAP-News: GRENKE AG: GRENKE successfully completes sale of investment in viafintech GmbH

GRENKE successfully completes sale of investment in viafintech GmbH

Baden-Baden, November 2, 2021: GRENKE, a global financing partner for small and medium-sized enterprises, has successfully completed the sale of its 25.01 percent minority interest in the fintech company viafintech GmbH. The sale was made to paysafecard.com Wertkarten GmbH, Vienna (Austria). The investment was sold by GRENKE BANK AG, a wholly owned subsidiary of GRENKE AG. In addition to GRENKE BANK AG, the majority shareholder GLORY Ltd. based in Himeji (Japan) and the three founders of viafintech also sold their shares. As previously announced, the transaction was signed on August 22 of this year.

All conditions required to complete the sale have been met, including the formal official approval required under the Foreign Trade and Payments Ordinance. As a result, GRENKE will realise an extraordinary net profit of approximately EUR 20 million in the fourth quarter of 2021, which is not yet included in the current financial guidance of EUR 60 million to EUR 80 million.

"With this sale, we and the other co-shareholders have opened the way for viafintech to take another significant step in its development. It was important for us to complete this transaction quickly and efficiently. Now, as a partner bank, we will continue to accompany viafintech's successful course very closely within the framework of a long-term cooperation agreement", comments Dr Sebastian Hirsch, Chief Financial Officer of GRENKE AG.

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About GRENKE

The GRENKE Group (GRENKE) is a global financing partner for small and medium-sized companies. As a one-stop shop for customers, GRENKE's products range from flexible small-ticket leasing and demand-driven bank products to convenient factoring. Fast and easy processing and personal contact with customers and partners are at the centre of GRENKE's activities.

Founded in 1978 in Baden-Baden, the GRENKE Group operates in 33 countries and employs more than 1,800 staff worldwide. GRENKE shares are listed in the SDAX on the Frankfurt Stock Exchange (ISIN DE000A161N30).