Fleet News

Highway up for sale again

UK Top 20 contract hire firm Highway Vehicle Management is up for sale for the second time in as many years in the latest upheaval for the industry following PHH Vehicle Management's alliance with Arval and Dial's sale to Lease Plan. Highway Vehicle Management's parent company, Great Universal Stores, confirmed it was looking for a buyer for the contract hire division this week.

It plans to sell two businesses in its finance division, General Guarantee Finance and Highway Vehicle Management, which boast combined assets of £1.29 billion. The company hopes to have completed the sale by June 8, when it publishes its preliminary results for the year to March 31.

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