Car lease firm LeasePlan up for sale, pension group PGGM named as buyer

leaseplan carA consortium of state-backed pension and private equity funds, including Dutch health service fund PGGM, is in talks to buy Almere-based LeasePlan, British broadcaster Sky says on Wednesday.

LeasePlan, which claims to be the biggest car leasing company in the world, said on Tuesday evening that its owner Global Mobility Holding was putting the company up for sale.

LeasePlan has a fleet of 1.4 million cars in 32 countries, including 120,000 in the Netherlands. The company booked net profit of €372m last year, a 14% rise on 2013. LeasePlan also operates as a savings bank and has a banking licence from the Dutch authorities.

Global Mobility Holding is 50% owned by Volkswagen. The remaining shares are in the hands of German banker Friedrich von Metzler, the Financieele Dagblad reports.

Sky News said the pension and investment funds‎ have been in talks with VW about a takeover of LeasePlan for several weeks.

PGGM is leading the consortium, which also includes the Abu Dhabi Investment Authority (ADIA), the Government Investment Corporation of Singapore (GIC), and TDR Capital, a London-based buyout firm, Sky says.

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