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Leaseplan discussions called off

Date: 16 April 2015   |   Author:

Leaseplan Corporation, the global leasing, fleet management and driver mobility company, has confirmed that it is no longer up for sale after terminating negotiations over a potential deal.

The firm, which operates the second-largest leasing company in the UK, revealed that it was in talks to sell on 10 March and put out a separate announcement on 31 March to reiterate it was still up for sale and in talks with undisclosed parties, but admitted in both annoucements that discussions were still in progress and "may or may not result in an agreement".

A Leaseplan statement said: "Parties have not reached an agreement on the change of ownership of Leaseplan and negotiations between parties have been ended."

Leaseplan is 50% owned by Volkswagen and 50% by banker Friedrich von Metzler, through the Global Mobility Holding joint venture, but have now said they have no further plans to pursue another sale.

Leasplan UK is the second largest leasing company in the UK and grew its fleet size by 4.1% to 139,698 vehicles last year.