VW plans Leaseplan sell off
Volkswagen Aktiengesellschaft and the Dutch company, Fleet Investments BV are disposing of leading leasing and fleet management company LeasePlan Corporation NV to a consortium of investors.
The total value of the transaction amounts to about EUR 3.7 billion. Subject to approval by the competent regulatory and anti-trust authorities, the closing of the transaction is expected by the end of this year.
‘Since Volkswagen acquired its stake in LeasePlan in 2004, the investment has developed positively. This development is reflected in the attractive offer received from the investors,’ said Hans Dieter Pötsch, CFO of Volkswagen Aktiengesellschaft. ‘With the expansion of our own fleet management activities at Volkswagen Financial Services, the time has, in our opinion, now come to hand LeasePlan over to new investors,’ Pötsch added.
LeasePlan is currently represented in 32 countries throughout the world, has a workforce of more than 6,800 people, has about 1.5 million vehicles under contract.
In 2014, LeasePlan reported net income of EUR 372 million.