Newcourt breaks off Deutsche talks

Article Abstract:

Newcourt Credit Group Inc cancelled talks with Deutsche Bank AG over pricing disagreements on the operations of Deutsche Bank subsidiary Deutsche Financial Services. The two companies were exploring the possibility of Newcourt getting Deutsche Financial Services and Deutsche Bank assuming a substantial equity stake in Newcourt. Both Newcourt and Deutsche Financial Services are asset-based lenders. Analysts said that a deal would help Newcourt gain access to cheaper funding sources.

Foreign operations, Germany, Business Financing, Deutsche Bank AG, Deutsche Financial Services, Newcourt Credit Group Inc.

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Newcourt, Deutsche Bank talk stock deal

Article Abstract:

Finance company Newcourt Group Inc of Toronto, Ontario, is negotiating a deal with Deutsche Bank AG that would result in the German bank owning at least a 41% stake in Newcourt. Under the proposed deal, Newcourt will acquire an interest in the US unit of Deutsche Bank in a three-way stock deal with the end result of the bank owning a substantial stake in the C$6.8-billion finance company. Newcourt has been seeking a solution to its problem of escalating borrowing cost.

Consumer Lending, Consumer Finance Institutions, Consumer finance companies, Newcourt Group Inc.

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