Volkswagen Aktiengesellschaft and the Dutch company Fleet Investments B.V. achieved closing on the sale of leasing and fleet management company LeasePlan Corporation N.V. to a consortium of investors. The total value of the transaction amounts to about EUR 3.7 billion (roughly $4,130,199,000,000). The transaction will have a positive impact on the net liquidity position of the Automotive Division of Volkswagen.LeasePlan is currently represented in 32 countries throughout the world, has a workforce of more than 7,200 people, with around 1.5 million vehicles under contract and is therefore the world’s largest provider of fleet management services. Through the Dutch joint venture Global Mobility Holding B.V., Volkswagen Aktiengesellschaft and the Dutch company Fleet Investments B.V., an investment company of the German banker Friedrich von Metzler, each held an indirect stake of 50 percent in LeasePlan.
NAFA Fleet Management Association will continue to monitor these changes to determine how they might affect fleet professionals and NAFA members.