AT&T Capital acquires European leasing business

Business Wire, Jan 3, 1995

MORRISTOWN, N.J.--(BUSINESS WIRE)--Jan. 3, 1995--AT&T Capital Corporation (NYSE - TCC) has announced that on Dec. 31, 1994, it signed a definitive agreement to acquire Banco Central Hispano's (BCH) vendor leasing and finance companies (CFH Leasing International) located in the United Kingdom, Germany, France, Italy and Benelux (Belgium, the Netherlands and Luxembourg). Specific terms of the agreement were not disclosed.

CFH Leasing International provides financial services to equipment manufacturers and vendors. With offices throughout western Europe, it serves 4,600 business customers and has more than $500 million in lease and finance receivables.

"We are very enthusiastic about this acquisition," said Tom Wajnert, chairman and chief executive officer of AT&T Capital. "The addition of this profitable business to our organization allows us to expand our global vendor-finance network in western Europe, further our international strategic initiatives, and strengthen the value of the vendor leasing and financial services we offer AT&T and other multinational vendors."

AT&T Capital has provided leasing and financial services to equipment vendors and others in the United Kingdom since 1991. The company expects to integrate CFH Leasing International with its UK operation to create its pan-European network.

Banco Central Hispano has headquarters in Madrid and is one of the leading banks of Spain. It provides retail, corporate and merchant banking and insurance services in both Spain and international markets. The bank has 2,700 branches in Spain and 31 operating branches outside the country.

AT&T Capital Corporation is the largest publicly owned equipment leasing and finance company in the United States. The company leases and finances both AT&T and non-AT&T equipment, including telecommunications equipment, general purpose equipment, data center and other high-technology equipment and vehicles. AT&T Capital serves approximately 500,000 small, mid-sized and large businesses in the United States, Canada, Mexico, Europe, South America and the Asia/Pacific region.

CONTACT: AT&T Capital Corp.

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