France’s second and third largest factors (by turnover and market share) have merged to create Eurofactor, which claims to be the European leader in international factoring.
Les Brown of Credit Lyonnaise Commercial Finance maintains that the newly merged entity is “Europe’s largest integrated factoring network” and that the presence of the Euler Group, as a joint shareholder, will see further enhancements and benefits to Credit Lyonnaise Commercial Finance’s Introducer base for all of their clients.
Credit Lyonnaise Factoring subsidiaries in Belgium, Holland, Germany, Spain, Portugal and the UK will form part of this network and name changes will follow over the next few months.
In a press release Dominique Charpontier, Chairman of the Board, has said of the amalgamation:
