LeasePlan to acquire full ownership of LeasePlan Turkey
Thursday, November 6, 2014 — LeasePlan Corporation, the world’s leading fleet management and driver mobility company, announces that it has signed an agreement to acquire the 49% stake Doğuş Group holds in LPD Holding A.Ș, the holding company of LeasePlan Turkey. Following the purchase of Doğuş’ 49% shareholding, LeasePlan will have full ownership of LeasePlan Turkey.
LeasePlan and Doğuş Otomotiv, one of the leading automotive importers and automotive distributors in Turkey, became joint venture partners in 2007, when LeasePlan acquired its existing 51% majority stake in LeasePlan Turkey from Volkswagen Financial Services. LeasePlan Turkey currently manages a fleet of more than 13,000 cars, and is one of the leading players in the Turkish fleet management industry.
Nick Salkeld, CCO of LeasePlan Corporation: “We have seen strong growth in Turkey since we entered the market with Doğuş in 2007. The time is now right for us to take full ownership of our Turkish business in order to pursue our ambitious growth plans. We have enjoyed a fruitful partnership with Doğuş and wish them well.”
Closing of the transaction is still subject to regulatory approvals.
LeasePlan is a global fleet management and driver mobility company of Dutch origin. Our full-service offering consists of financing and operational fleet management services to meet the needs of a diverse client base. Established over 50 years ago, we have grown to become the world’s leading fleet and vehicle leasing company, with over 85% of our 6,500+ workforce now operating outside the Netherlands. Our global franchise manages some 1.38 million multi-brand vehicles and provides fleet and vehicle management services in 32 countries. We have a proven track record in enhancing our presence in traditional, mature fleet markets as well as expanding into new markets and growing our business to adopt market leading positions. We are able to capitalise on our global presence and international network by providing innovative products, value for money and superior service to meet the needs of (multi)national clients. We aim to do this by using our expertise to make running a fleet easier for our clients. This is reflected in our universal promise to all our clients: ‘It’s easier to leaseplan’.