A German investment company has agreed to acquire
50 percent of the shares of LeasePlan, the Dutch-headquartered
fleet and vehicle management company, joining Volkswagen which
currently owns the other 50 percent.

Fleet Investment, owned by German
banker Friedrich von Metzler, will become a 50 percent shareholder
of LeasePlan, after LeasePlan’s two Gulf co-investors – Abu Dhabi’s
Mubadala Development Company and Saudi Arabia’s Olayan Group –
decided to divest their stakes in the lessor.

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The joint venture means that VW will
no longer need to take up the remaining stake of LeasePlan by
itself.

According to LeasePlan the
transaction, which is expected to close later this year, reconfirms
the “high strategic importance” of multi-brand fleet management for
VW.

LeasePlan chief executive officer
Vahid Daemi added: “We value the fact that in the current economic
climate a financially strong and long-term oriented investor is
interested to acquire a 50 percent stake in our company, and
consider this a confirmation of the success of our company.”

 

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