LeasePlan to expand Italian business with new acquisition
The acquisition of the BBVA Renting SpA and BBVA Autorenting SpA companies will add 20,500 vehicles to the LeasePlan global fleet of 1.3 million vehicles and enable it to expand further into the Italian fleet and leasing market.
Alfonso Martínez Cordero, managing director of LeasePlan Italy, said: ‘This acquisition reinforces our position in the country, representing one of the few growth opportunities available in the highly competitive Italian leasing market. It will give us access to an attractive portfolio of both large corporations and small companies, and will allow us to continue to add value to our clients by realising efficiencies and economies of scale.’
He added: ‘We will use the expertise we’ve acquired from our many years in the Italian fleet management market to make it a truly successful acquisition.’
The transaction is expected to complete during the first 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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