AIG takes stake in Carcade Leasing

Alan Heath
21-12-2001, 00:00

Having completed the process of due diligence in Carcade Leasing, AIG is to take a stake in the leasing company. The negotiations took more than the three months originally planned due to changes in the law which have been, for once, in favour of business and have done away with a lot of the red tape around leasing.

Carcade has around 1,500 cars in its portfolio and can now count on the VAT being repaid, under former rules this was not possible.

AIG is interested in Carcade Leasing as it wants to quickly enter the Polish leasing market. In the current economic situation building up from nothing would have taken far too long.

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