Arval, a subsidiary of BNP Paribas, completed the acquisition of GE Capital’s European fleet services business.
With this acquisition, Arval becomes number one in Europe in full service multi-brand vehicle leasing.
The scope of the transaction included more than 160,000 vehicles in 12 European countries, with total vehicles assets amounting to around €2.4bn.
The deal is part of a global transaction in which Element Financial, Arval’s strategic partner in North America, acquired GE Capital Fleet Services’ businesses in the United States, Mexico, Australia and New Zealand.
As a result, the Element-Arval Global Alliance now becomes a global leader with a fleet of more than three million vehicles in 47 countries.
Walder Wyss advised Arval in this transaction as to all matters of Swiss law. The team was led by Simon Kehl (managing associate, corporate/M&A) and included Markus Pfenninger (partner, banking and finance), Jürg Schneider (partner, IP/IT), Elisabeth Moskric (counsel, banking and finance), Simone Wetzstein (associate, employment), Christian Lütolf (associate, corporate/M&A) and Valentin Wiesner (trainee, corporate/M&A).