Sale Of LeasePlan Gets Green Light

Global Mobility Holdings B.V. (a joint venture between Volkswagen and Fleet Investments) has received the green light from the European Central Bank (ECB) to sell their 100 percent ownership stake in LeasePlan Corporation. VW and Fleet Investments each held a 50 percent stake in the Dutch fleet management organization. 

The deal, worth around €3.7 billion (roughly $4.1 billion), had been rumored for several months, but was reported to be in it's final stages at the beginning of February. Global Mobility Holdings is reportedly selling to a consortium of European banks and investment groups. This group includes PGGM (a Danish pension  fund service), ATP (Denmark's largest pension fund), and a subsidiary of the Abu Dhabi Investment Authority, among others.

 

LeasePlan has long been a mainstay in the fleet industry. Founded in 1963 in the Netherlands, the company currently "manages some 1.5 million multi-brand vehicles and provides global fleet management and driver mobility services in 32 countries," according to the LeasePlan site. LeasePlan will remain an independent company.