LeasePlan to expand in Austria through acquisition
LeasePlan will acquire 100% of the share capital of BAWAG PSK Fuhrparkleasing GmbH. The acquisition entails some 6,500 cars and is being made in line with LeasePlan’s selective growth strategy.
Nigel Storny, managing director at LeasePlan Austria (pictured), commented: ‘This transaction represents one of the few inorganic growth opportunities available in the highly competitive Austrian leasing market. This acquisition is a nice strategic fit to strengthen our core business, and we look forward to welcoming our new colleagues into LeasePlan.’
The transaction is expected to be completed during the third quarter of 2013 and is subject to customary closing conditions.
Natalie Middleton
Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.
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