Carcade announces zl.100 million strategic investor

The management of Carcade Invest, one of Poland's biggest independent leasing companies, has announced that it has selected a strategic investor interested in buying a share package estimated at zl.100 million. The company did not reveal the name of its new partner. However, Puls Biznesu reports that it is known to be a financial group with German capital. According to Carcade chairman Wladyslaw Bajsert, the final investment agreement will be signed at the end of November. Because of legal restrictions on banks providing finance for independent leasing firms, Carcade is short of cash for purchasing assets to lease. The company remains profitable, however, even though in the first half of 2001 it leased total assets valued at just zl.35 million, barely 30% of the figure in the same period of last year. (Puls Biznesu; p. 3; Prawo i Gospodarka, p. 8) M.T.