Daimler Unit Buys Athlon Car Lease International for EUR1.1 Billion
01 July 2016 - 6:58PM
Dow Jones News
By Sarah Sloat
FRANKFURT--Daimler AG said Friday that its financial services
unit would buy Athlon Car Lease International for 1.1 billion euros
($1.22 billion) to boost growth in the German auto maker's fleet
management activities.
Athlon manages a fleet of about 250,000 vehicles in 11 European
countries, including Germany, France, Poland and Switzerland. The
mobility services company is part of DLL Group, a subsidiary of
Rabobank Group, Daimler said.
"Fleet management is a growth market and this acquisition of a
strongly positioned and innovative fleet management company is a
key step for us in becoming a leading fleet management services
provider," said Daimler board member Bodo Uebber.
The acquisition is expected to close in the fourth quarter,
Daimler said.
Write to Sarah Sloat at sarah.sloat@wsj.com
(END) Dow Jones Newswires
July 01, 2016 04:43 ET (08:43 GMT)
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