Fleet News

Merger go-ahead could create the country's largest car leasing firm

SHAREHOLDERS of the Bank of Scotland and Halifax have approved the merger of the two firms, which could create the country's largest car leasing firm. The £28 billion merger was given the green light by the Department of Trade and Industry and last week shareholders put their stamp of approval on the plan to create a new company, HBOS.

Both firms have a major presence in the contract hire and leasing sector, with Bank of Scotland owning Bank of Scotland Vehicle Management and Godfrey Davis Contract Hire, as well as being involved in Renault Financial Services.

Halifax has a 50% shareholding Lex Vehicle Leasing, which with BOS leasing operations, would create a fleet of more than 140,000 funded vehicles.

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