Arval Austria acquires UniCredit Leasing
Arval Austria has acquired 100% of the shares of UniCredit Leasing Fuhrparkmanagement GmbH and has reached a long-term exclusive cooperation agreement with its (former) parent, UniCredit Bank Austria. The agreement will allow Arval to offer fleet management and mobility services to corporate customers of UniCredit Bank.
Until now, UniCredit Leasing (Austria) was the fleet leasing and fleet management subsidiary of UniCredit Bank Austria. Its total fleet consists of 6,000 vehicles, 600 of which are under fleet management contracts.
Its acquisition significantly strengthens Arval’s position on the Austrian market, increasing its total leased fleet to 13,000 units and propelling it to third place in the ranking of the country’s largest full-service leasing providers.
Furthermore, the cooperation agreement with UniCredit Bank Austria – a.k.a. Bank Austria, and a subsidiary of Milan-based UniCredit Group – gives Arval access to one of the largest banking networks in Austria, with a significant number of corporate customers, small, medium and large.
“We are delighted to welcome UniCredit Leasing’s employees and customers. I am convinced this cooperation agreement will add value for both Arval and UniCredit,” said Kalman Tekse, General Manager of Arval Austria.
“We are really looking forward to working with UniCredit Bank beyond fleet management, developing with them the sustainable mobility offer of tomorrow,” added Alain Van Groenendael, Arval CEO.
“With this strong strategic partner, we give our customers direct and rapid access to future product innovations in vehicle leasing and new mobility,” concluded Susanne Wendler, member of the Management Board of UniCredit Bank Austria.
Subject to the customary antitrust approvals, the transaction is expected to close in the second half of 2020.
Image: UniCredit Leasing Fuhrparkmanagement GmbH