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PHH Corp. has agreed to sell its fleet management unit, PHH Arval, to Element Financial Corp. for $1.4 billion in cash in a deal that had been in the works since February.
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The Canadian equipment financier acquiring PHH Arval is raising $1.1 billion to close a deal it says will fuel ambitious expansion plans in the North American fleet management market.
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PHH Arval has launched three new technology platforms to help clients gain additional data about their vehicles, the fleet management company announced today.
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Element Financial Corp. is expected to finalize the purchase of PHH Corp.'s fleet leasing unit for about $1.35 billion in about two weeks, according to a Reuters report quoting a source familiar with the matter.
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PHH Arval has elevated three executives to new leadership roles, including elevating an executive to head its North American business development efforts, the fleet management company has announced.
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The PHH Arval Energy Conference has spent more than 20 years educating and informing its energy industry clients on how to make the most of their fleets.
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Rightsizing a fleet, whether it means reducing the number of vehicles or transitioning to smaller, more fuel-efficient models, can create resentment and frustration among drivers, causing them to resist the initiative.
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PHH Arval could sell for as much as $650 million if the fleet management division were separated from PHH Corp.'s mortgage business, a Wall Street analyst told AutomotiveFleet.com.
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PHH Arval has opened its first commercial truck center in the country in Virginia Beach to offer its off-lease truck inventory, the fleet management company announced Thursday.
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Technology is key factor in fleet managers' ability to be efficient and productive. Read a representative sampling of some of the newest technological options available from telematics and fleet management companies.
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