LeasePlan Finalizes Expansion to Turkey
ANKARA, TURKEY – LeasePlan Corporation has announced the finalization of the purchase of Volkswagen Financial Services AG’s 51 percent share in vdf Holding A.S. The transaction has been approved by the Turkish anti-trust authorities. vdf Holding’s brand vdf Fleet Services is active in the operational leasing market in Turkey.
May 2007, LeasePlan Corporation announced this share purchase together with the signing of a joint venture agreement with Dogus Otomotiv, which holds the remaining 49 percent share in vdf Holding A.S.
With the acquisition of a majority share in a professional multi-brand company and the cooperation with an experienced local partner, LeasePlan is expanding its worldwide network from 28 to 29 countries. vdf Fleet Services has a fleet of approximately 6,000 vehicles and is the fourth player in the Turkish market. Through this entry in the Turkish market LeasePlan will be able to meet the service demand of several of its existing international customers.