BNP Paribas SA unit BNP Paribas Leasing Solutions signed a memorandum of understanding to acquire a 100% stake in IKB Leasing Romania, subject to approval from different regulatory authorities.

The financial terms of the deal, which is expected to be finalized by the end of the third quarter, were not disclosed. The transaction will strengthen BNP Paribas Leasing Solutions' position in the leasing market in Romania, the company said June 11.

IKB Leasing Romania, which was founded in 2008, specializes in professional equipment financing, mainly agricultural material financing.