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CCF sells stake in Lixxbail Group to Crédit Lyonnais
1 July 2002
The following text is the English translation of a news release issued in France by HSBC Holdings plc’s subsidiary.
CCF has sold its 50 per cent stake in Lixxbail Group to Crédit Lyonnais.
Lixxbail Group was created as a joint-venture in December 2000 by the merger of Slibail and Loxxia, the asset leasing subsidiaries of Crédit Lyonnais and CCF respectively. At the end of December 2001, the company had net assets of EUR140 million.
With 76,000 clients and productive outstanding leases of EUR3.5 billion, Lixxbail Group ranks second (by total value of outstanding leases) in the French asset leasing market.
CCF and its subsidiaries will continue to be associated with the expansion of Lixxbail Group, remaining a major commercial partner.
Notes
HSBC Holdings plc
CCF joined the HSBC Group in July 2000. With some 7,000 offices in 81 countries and territories and assets of US$696 billion at 31 December 2001, the HSBC Group is one of the world’s largest banking and financial services organisations.
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