ECB issues Declaration of No-Objection for acquisition
LeasePlan Corporation N.V. today announces that it has been informed that the European Central Bank has issued a Declaration of No Objection for the acquisition of LeasePlan by a consortium of long-term investors.
LeasePlan Corporation N.V. ("LeasePlan"), the world’s leading fleet management and driver mobility company, today announces that it has been informed by its current 100% shareholder Global Mobility Holding B.V. (a joint venture of Volkswagen Aktiengesellschaft and Fleet Investments B.V.) that the European Central Bank (the "ECB") has issued a Declaration of No Objection for the Acquisition of LeasePlan by a consortium of long-term investors (the "Consortium”).
The Consortium is composed of a group of long-term responsible investors and includes leading Dutch pension fund service provider PGGM, Denmark’s largest pension fund ATP, GIC, Luxinva S.A., a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and investment funds managed by TDR Capital LLP.
On 23 July 2015 LeasePlan announced that the Consortium had reached an agreement with the current owners to acquire LeasePlan, subject to the approval of the relevant regulatory authorities.
Other regulators, including EU and local anti-trust authorities have already given clearance for the acquisition. Global Mobility Holding has informed LeasePlan that closing of the transaction is still expected in Q1 2016.
LeasePlan will refrain from giving further comment at this stage.