BNP
Paribas-owned Arval has agreed to acquire the vehicle leasing arm
of Spanish savings bank la Caixa. It will pay €62m for the fleet
management and contract hire business.
The deal gives Arval a total fleet
of 85,000 cars and vans, combining Arval’s 48,000 vehicles with
CaixaRenting’s 35,000 vehicles. The company claimed that this makes
it Spain’s leading vehicle lessor.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Arval CEO Laurent Treca said: “This
is a major opportunity for our local subsidiary, opening up
additional fields for growth in a market where Arval already shows
excellent performance.”
The deal is scheduled to be
completed by the end of the year, once authorisation has been
obtained from the Spanish anti-trust authority. Arval, alongside
BNP Paribas Lease Group, Artegy, and Arius, forms the leasing
business of the French banking group.
CaixaRenting said it will remain active in equipment and
property leasing.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
