Arval Germany – the car leasing company owned
by BNP Paribas – has received authorisation to acquire Commerz Real
Autoleasing, the vehicle leasing arm of the Commerz Real Group.
The acquisition, which was announced in
mid-December 2010, enables Arval Germany to expand its vehicle
portfolio by more than 50 percent to 36,000 vehicles.
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It will also expand Arval’s sales network in
Germany.
As a result of the official authorisation,
Arval Germany has now become a partner of Commerz Real
Mobilienleasing GmbH in the field of full service vehicle leasing
for corporate customers.
The German Federal Finance Supervisory
Authority and the Federal Cartel Office granted the approval for
the take over.
Lionel Wolff, managing director of Arval
Germany, said: “The merger of the two organisations is a further
confirmation of our commitment to Germany as a business
location.”
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By GlobalDataIn addition to the acquisition in Germany,
Arval was involved in several other partnerships last year.
In May 2010, Arval Poland reached an agreement
with Daimler Financial Services to buy the majority of the
portfolio of Daimler Fleet Management Polska.
Arval Spain also announced the take over of La
Caixa’s full service vehicle leasing activities in July 2010.
nick.huber@vrlfinancialnews.com
