KBC Group to buy Business Lease Czech Republic and Slovakia

Core Insights - KBC Group has agreed to acquire 100% of Business Lease Czech Republic and Business Lease Slovakia for €72 million ($83.5 million) to enhance its leasing operations in Central Europe [1] - Business Lease operates in the operational leasing and fleet management market, primarily serving SMEs and large corporations, with a fleet of over 30,000 vehicles and 244 employees [2] - The acquisition is expected to strengthen KBC Group's position in the Czech Republic and Slovakia, creating a combined fleet of around 15,000 operating leasing vehicles in the Czech Republic and 10,000 in Slovakia, making KBC a top player in both markets [3] Company Strategy - KBC Group's CEO emphasized that this acquisition is a significant step in the strategy to bolster its market position in the Czech Republic and Slovakia [3] - The integration of Business Lease with ČSOB Leasing is anticipated to yield increased operational efficiencies [3] Market Context - The CEO of Autobinck Group noted that the sale to KBC is a strategic move amid rapid market consolidation, allowing Business Lease to partner with larger players for future growth [4] - The acquisition is expected to be completed by the first quarter of 2026, pending regulatory approval from antitrust authorities [4]