BNP Paribas subsidiary Arva has begun exclusive discussions with Mercedes-Benz Group for acquiring Athlon, a multi-brand fleet operator managing over 400,000 vehicles across ten European countries.

The acquisition would bring together Arval’s existing 1.9 million vehicles and Athlon’s fleet, forming a combined presence of close to 2.3 million vehicles in the European leasing market.

Athlon manages more than 56,000 vehicles on behalf of clients.

The proposed transaction is aligned with Arval’s two main objectives. The first is to strengthen its market position in France, the Netherlands and Germany, where Arval and Athlon have complementary client bases, while expanding operations across Europe.

Additionally, the proposal includes measures to strengthen business cooperation between Arval and Mercedes-Benz Group.

Mercedes-Benz Mobility AG CEO Franz Reiner stated: “Athlon has been a valuable part of Mercedes-Benz Mobility over the past nine years. This step would create new opportunities to further develop the business and explore new paths for success and, most importantly, to offer customers compelling perspectives for the future.”

Arval has recorded average annual growth exceeding 100,000 units over the past three years.

The finalisation of the transaction is expected in 2026 once all necessary regulatory and consultation processes have been completed.

Both parties stated that additional details will be shared as the process moves forward.

A Bloomberg report from August 2025 indicated that the value of the deal may be around €1bn ($1.2bn), though these figures are subject to change as discussions continue.

Earlier in 2025, Mercedes-Benz Group had invited initial interest from potential buyers for Athlon, which was previously acquired from Rabobank in 2016 for about €1.1bn.