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Idea Leasing completes merger with Getin Leasing

Idea Leasing SA and GETIN Leasing SA completed their merger, creating one of the largest leasing companies in Poland, Idea Leasing said Feb. 2.

The merged entity will operate as Idea Getin Leasing SA. Marek Bauer was named chairman of the management board of the merged company.

Idea Leasing took full control of Getin Leasing in September 2017, with a merger plan inked in November 2017. The merger of the leasing companies was aimed at simplifying their structure and achieving revenue synergies estimated at around 3 million Polish zlotys per year in the medium term, the units' parent, Idea Bank SA, said at the time.

As of Feb. 2, US$1 was equivalent to 3.35 Polish zlotys.