BERLIN: Volkswagen and its Dutch partner Fleet Investments have announced to sell LeasePlan Corp for about 3.7 billion euros ($4 billion).
The global fleet management company LeasePlan Corp has some 1.5 million vehicles under contract in 32 countries, with a workforce of over 6,800. Last year it reported net income of 372 million euros, the companies said.
German auto giant VW Chief Financial Officer Hans Dieter Poetsch said that since Volkswagen acquired its stake in LeasePlan in 2004, the investment has developed positively, adding that this development is reflected in the attractive offer received from the investors.
“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.”
The group of prospective buyers includes investment bank Goldman Sachs, the Dutch and Danish pension funds and a subsidiary of the Abu Dhabi Investment Authority, LeasePlan said in a statement.
