MORRISTOWN, N.J. - AT&T Capital Corp. said it has reached a definitive agreement to acquire CFH Leasing International, Banco Central Hispano's vendor leasing and finance companies. Terms of the agreement were not disclosed.
CFH Leasing International provides financial services to equipment manufacturers and vendors. With offices in the United Kingdom, Germany, France, Italy, Belgium, the Netherlands, and Luxembourg, it serves 4,600 business customers and has more than $500 million in lease and finance receivables.
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 British operation to create a pan-European network.
Banco Central Hispano, based in Madrid, 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.