CaixaRenting, the vehicle leasing subsidiary of Spanish financial company ‘La Caixa’ is to merge with Arval, part of BNP Paribas, in Spain. The CaixaRenting name will continue, with Arval responsible for the supply of the product. Arval will become responsible for a further 85,000 vehicles through this transaction, and according to the company it will therefore become ‘leader of the vehicle leasing business in Spain. The transaction is being concluded for a sum of € 62 million, but is still subject to authorisation from the Spanish anti-trust authorities.

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