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.

  • See next week's Fleet News for full details.
  • Leave a comment for your chance to win £20 of John Lewis vouchers.

    Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

    Login to comment


    No comments have been made yet.

    Compare costs of your company cars

    Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

    What is your BIK car tax liability?

    The Fleet News car tax calculator lets you work out tax costs for both employer and employee