The German subsidiary of BNP Paribas-owned
fleet giant Arval is to take over Commerz Real Autoleasing, the
vehicle leasing arm of the Commerz Real group.
As a result of the deal, Arval Germany’s fleet
will grow by more than 50 percent to reach a total size of more
than 36,000 vehicles, and its employee headcount will increase to
more than 200.
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The takeover is still subject to authorisation
by the German Financial Supervisory Authority (BaFin) and the
German Cartel Office, but is expected to occur in the first quarter
of 2011.
Despite its expansion, Arval will continue to
focus on leasing car fleets of twenty or more vehicles.
The company’s headquarters will remain in
Kirchheim, near Munich, although the Hamburg site along with its
workforce will be retained in order to boost Arval’s overall sales
footprint and local presence.
Also as part of the deal, Arval has entered
into a cooperation agreement with Commerz Real parent group
Commerzbank that will see it use the bank’s contact book to reach
greater numbers of corporate customers.
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