Fleet News

LeasePlan sold

LEASING giant LeasePlan has been sold in a €2.13 billion pound deal by a consortium led by Volkswagen Group.

The buying consortium is made up of Volkswagen Group (50%) and internationally renowned co-investors, Olayan Group (25%) and Mubadala Development Company (25%).

It has signed a takeover deal with LeasePlan Corporation owner ABN AMRO Bank NV.

LeasePlan UK managing director Kevin McNally said: 'This is very positive and exciting news for us. Our new shareholders have recognised our strong performance over recent years and have whole-heartedly bought into our long-term vision by offering a stable partnership.'

McNally added: 'Externally, customers and suppliers will see few changes - we will continue to provide excellent customer service and market leading fleet management and leasing solutions. Volkswagen has made it clear that the acquisition was not intended to create a new sales channel. As far as we are concerned it's business as usual.'

The acquisition of LeasePlan Corporation, which is active in 26 countries and manages more than 1.2 million vehicles, is subject to regulatory approval.

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