Daimler Financial Services (Daimler FS) has received regulatory approval for its €1.1bn (£0.9bn) acquisition of Athlon Car Lease International from DLL, first announced in July, and has installed Gero Goetzenberger to lead the business.

Daimler FS will lead its fleet management business under the Athlon brand, with Daimler Fleet Management and Athlon Car Lease International operating as a part of a multi-brand fleet provision.

Gero Goetzenberger, chief executive of Daimler Fleet Management since 2012, has been named new chief executive of Athlon, replacing Frans Janssen, the former chief executive who will become chief commercial officer. The headquarters for the company will be in Almere, in the Netherlands.

“With a combined portfolio exceeding 350,000 vehicles we will be an important player in the European fleet business. With Athlon, we will enhance our mobility solutions for companies,” said Klaus Entenmann, chairman of Daimler Financial Services AG. The integration in all European markets is expected in 2018. In the future, customers will benefit from an extended offer and optimized processes.

 “We want to become the leading provider for business mobility in Europe. Our 1,800 employees are committed to delivering on this promise. With our experience and passion we will extend our offer and grow,” said Goetzenberger.