LeasePlan Corporation, the operational multi-brand car leasing and fleet management service company, is being sold by ABN AMRO to a consortium led by Volkswagen Group for €2.13 billion.
Following the completion of the transaction, Volkswagen Group will hold 50 per cent of the shares in LeasePlan Corporation. Two co-investors, the Mubadala Development Company, based in Abu Dhabi, and Olayan Group, based in Athens, will each own 25 per cent.
ABN AMRO said the divestment was due to the bank looking to focus more on its core activities.
LeasePlan Corporation has activities in 26 countries, over 7,000 employees and 1.2 million vehicles under management. The company has two Irish operations, LeasePlan Fleet Management, which employs 40 people in Dublin and was formed when Fleet Management Services formed a partnership with LeasePlan in 1997, and LeasePlan Finance N.V., a treasury operation. |
