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Volkswagen Considered ‘Favorite’ to Buy LeasePlan

September 14, 2001

Volkswagen is considered the industry favorite to purchase international leasing and fleet management company LeasePlan, according to Fleet News. Talks of purchase of the leasing operations of Dutch financial services giant ABN AMRO are said to be at an early stage, although city analysts have already put a price of nearly £600 million on the deal. ABN AMRO, with more than 1 million vehicles under management, including Britain’s largest leasing company, LeasePlan, has made clear that its global leasing operations are not core to its business. Volkswagen and ABN AMRO are refusing to comment on the claims, but the move would give Volkswagen a claim to be one of the largest fleet management companies in the world. Industry sources had also put forward that GE Capital Fleet Services (GECFS) as a potential buyer, although some are claiming the firm may have backed away from the bid. GE Capital Fleet Services was tipped as a bidder for ABN AMRO’s leasing operations in June, when it was revealed that senior executives from both GECFS and LeasePlan had met to explore potential integration.
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