23.05.2012 - Cross-border leasing is history

Messe Frankfurt has cancelled its cross-border leasing arrangements with a US investor and the participating banks. The contract was cancelled by mutual agreement and took effect from the end of April 2012. According to reports, Messe Frankfurt is left with a profit of more than €15 million, excluding the interest savings made over the twelve year period. Messe Frankfurt's Wolfgang Marzin stressed that cancellation of the contract has made further development of the exhibition grounds easier. "This has made us completely flexible again“, he said. Cross-border leasing deals were made because the contractual partners expected to gain tax advantages. (ank)

Quelle: May 9, 2012 [m+a UFI Newsletter]