Business Services Industry
GOVERNMENT-OWNED COMPANY BUYS 25% STAKES IN LEASEPLAN CORPORATION
Info-Prod Research (Middle East), May, 2004
According to the Kuwaiti news agency (May 30, 2004), the Mubadala Development Company, which totally belongs to the Abu Dhabi government, Germany's Volkswagen group and Saudi Arabia's Olayan Group bought the Dutch fleet management giant Leaseplan Corporation from Abn-Amro bank for Euro 2 billion. Mubadala and Olayan Group bought 25% stakes in Leaseplan per each and Volkswagen bought 50% of the stakes.
This is one of Mubadala's biggest strategic investments in a large-scale international venture. Leaseplan is the leading multi-brand fleet management services provider in Europe and one of the leading players worldwide.
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