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Monday, September 14, 2015

Arval signed a Memorandum of Understanding with GE Capital to potentially acquire its

fleet management activity. The scope of this acquisition covers more than 160,000 vehicles in 12 European countries and vehicles assets of €2.4bn in France, Germany, UK, Italy, Belgium, Spain, Portugal, Sweden, Netherlands, Switzerland, Austria and Luxembourg.

This deal is part of a global transaction by which Element Financial Corporation, Arval’s partner in North-America, has agreed to buy GE Capital Fleet Services’ businesses in the United States, Mexico, Australia and New Zealand. Through these deals, Arval and Element Financial significantly strengthen the Element-Arval Global Alliance’s reach to become a global leader with more than 3 million vehicles in some 40 countries.

The completion of the transaction is targeted for the 4th quarter of 2015, subject to the execution of the final documentation after work council consultations, and to necessary regulatory approvals. Once closed, it will significantly reinforce the market position of Arval with a leading position in Europe and around 900,000 vehicles worldwide.

With this deal, demonstrating our commitment to investing and growing into this industry, our clients would benefit from a larger scale, a reinforced presence in our existing countries and a new presence in Sweden, and also a strengthened partnership within the Element-Arval Global Alliance. The Clients of Arval, especially large and international business, will get undeniable benefits:

• expansion of coverage area;

• presence of new business-unit of Arval in Sweden;

• strengthening of partnership with Element - Arval Global;

• appearance in Arval team of new professionals of international level who is always ready to share expert recommendations with Clients.                                                                                                                                                                     

In conclusion Arval company thanks all Clients for a cooperation and support!

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