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August 20, 2009updated 12 Apr 2017 4:33pm

EU Commission approves LeasePlan acquisition

The European Union has given its final approval to German carmaker Volkswagen and Dutch investment company Fleet Investments to take joint control of LeasePlan Corporation, the Dutch car lessor. LeasePlan was jointly controlled by VW and two other companies, Abu Dhabis Mubadala Development Company and Saudi Arabias Olayan Group, which are selling their shares to German investment company Fleet Investments, part of the Metzler Group.

By Jason T

The European Union has given its final approval to German
carmaker Volkswagen and Dutch investment company Fleet Investments
to take joint control of LeasePlan Corporation, the Dutch car
lessor.

In a statement, the European Commission, which is tasked with
ensuring that mergers and acquisitions do not distort competition
in the EU, said: “The transaction would not impede effective
competition in the European Economic Area or any substantial part
of it.”

LeasePlan was jointly controlled by VW and two other companies,
Abu Dhabi’s Mubadala Development Company and Saudi Arabia’s Olayan
Group, which are selling their shares to German investment company
Fleet Investments, part of the Metzler Group.

Jason T Hesse

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