Fleet News

Fiat/ABN Amro launch pan-Euro lease venture

FIAT Auto and ABN Amro Lease Holdings - parent company of Lease Plan - have formed a leasing company to operate throughout Europe starting in Britain and France.

Fiat Auto owns 60% of the un-named new company, although it will be part of Fiat Auto Financial Services, and 40% will be held by ABN Amro Lease Holdings, Holland's largest bank. Lease Plan, along with GE Capital Fleet Services, is the largest European leasing company, and Fiat Auto will forge links with Lease Plan in each country. Fiat Auto (UK) will sell contracts through its Fiat and Alfa Romeo dealerships with Lease Plan supplying maintenance management and administration.

Andrew Brown, customer services director of Fiat Auto (UK) and a member of the steering company establishing the venture, said he expected the UK company to be trading in the first half of 1997.

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