What's the news?
Eleven years after buying a 50 per cent stake in Dutch vehicle leasing company, LeasePlan, Volkswagen AG and Fleet Investments B.V. are selling its share of the company to a consortium of investors. The deal, which is still subject to approval by the competent regulatory and anti-trust authorities, is expected to be completed before the end of this year.
Commenting on the planned sale, Volkswagen's CFO, Hans Dieter Pötsch, said: "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. 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."
Anything else?
LeasePlan is currently the world's largest provider of fleet management services with approximately 1.5 million vehicles under contract. It is represented in 32 countries and has a combined workforce of more than 6,800 people. In 2014 it reported a net income of €372 million.