Arval Beyond
ARVAL SIGNS AN AGREEMENT TO BUY UNICREDIT LEASING FUHRPARKMANAGEMENT GMBH, AND TO ENTER IN A LONG TERM EXCLUSIVE COOPERATION AGREEMENT WITH UNICREDIT BANK AUSTRIA
Strategy
8 Jul 2020
ARVAL SIGNS AN AGREEMENT TO BUY UNICREDIT LEASING FUHRPARKMANAGEMENT GMBH, AND TO ENTER IN A LONG TERM EXCLUSIVE COOPERATION AGREEMENT WITH UNICREDIT BANK AUSTRIA
Arval announced today that its Austrian subsidiary has signed an agreement with UniCredit Leasing (Austria) GmbH to purchase 100% of the shares of UniCredit Leasing Fuhrparkmanagement GmbH. A long-term exclusive cooperation settlement between Arval Austria and UniCredit Bank Austria is part of the agreement, allowing Arval to offer to the Bank’s corporate customers its fleet management and mobility services.
The acquisition of UniCredit Leasing Fuhrparkmanagement GmbH, the fleet leasing and fleet management subsidiary of UniCredit Bank Austria, and its fleet of 6,000 vehicles (of which 600 are under fleet management contracts) will significantly strengthen Arval’s position in Austria, allowing the company to become one of the 3 largest full service leasing players in the market, with a leased fleet totaling 13,000 vehicles.
The Cooperation Agreement will give Arval access to one of the largest banking networks in Austria, UniCredit Bank Austria, especially to corporate customers - be they small, medium or large companies.
The transaction is expected to close in the second semester of 2020, and is subject to customary and anti-trust usual approvals.
“I am convinced this cooperation agreement will bring value to both partners Arval and UniCredit, and we are delighted to welcome the Unicredit Leasing Fuhrparkmanagement GmbH’s employees and customers” commented Kalman Tekse, General Manager of Arval Austria.
This acquisition is a step further in Arval’s strategy to develop partnerships. “We are really looking forward to working with UniCredit Bank Austria, and beyond fleet management, develop together tomorrow’s sustainable mobility offer that will fit with the expectations of Austrian companies and customers” adds Alain Van Groenendael, Arval Chairman & CEO.
Susanne Wendler, member of the Management Board of UniCredit Bank Austria responsible for Unternehmerbank, to which UniCredit Leasing Austria belongs, emphasizes: “We are pleased that we have been able to win a highly professional fleet management partner in Arval. The future sales cooperation will enable us to serve our customers even better in the future by offering them the services of one of the largest European full service leasing & mobility companies. With this strong strategic partner, we will also ensure our customers direct and rapid access to future product innovations in the field of vehicle leasing but also new mobility means, at an international scale.”