BNP Paribas: Building the European co-leader in full-service vehicle leasing – Exclusive negotiations between Arval and Mercedes-Benz Group for the acquisition of Athlon
With a fleet of 1.9 million vehicles under full-service leasing and the strongest growth momentum in the market as well as the highest quality of service – achieving an average annual increase of more than 100,000 units over the past three years – Arval, together with Athlon, would create a combined entity of close to 2.3 million vehicles, compared to the current leader with 2.6 million vehicles in full-service leasing.
This would significantly strengthen Arval’s presence in key markets and its competitive position in Europe, making it the European co-leader in full-service vehicle leasing.
The integration of these operational platforms would generate substantial cost synergies and materially enhance overall efficiency.
The expected ROIC from the transaction would reach 18%, representing a positive contribution to the Group’s net income per share close to 200 million euros in year 3.
The target CET1 impact of close to -13 bps is already included in the Group’s capital trajectory towards the objective of a CET1 ratio of 13% by end 2027.
This transaction is part of BNP Paribas’ strategy to develop its profitable platforms in growth markets and to enhance the Group’s profitability profile through targeted growth levers.
The contemplated transaction remains subject to the information and consultation process with the relevant employee representative bodies of the entities concerned. The completion of the acquisition of 100% of Athlon is expected in 2026, following receipt of the necessary approval from the competent authorities.
The parties will provide further updates on the progress of the acquisition in due course.
Margit Wehning
BNP Paribas Deutschland
Senckenberganlage 19
60325 Frankfurt am Main
+49 (0) 1512 2828445