Volksbanken Said to Sell Container Leasing Business to Fortress

Oesterreichische Volksbanken AG, the lender partially nationalized by Austria, is close to a sale of its container-leasing unit to Fortress Investment Group LLC, according to two people with knowledge of the process.

Volksbanken may sell Immoconsult Asset Leasing GmbH, a Vienna-based company that leases shipping containers, to Fortress for less than $200 million, said one of the people, who asked not to be identified because the process is private. The transaction is expected to be completed in the next few weeks, the person said.