VW-backed Global Mobility in talks to sell Dutch fleet manager LeasePlan

Amsterdam-based Global Mobility Holding, a joint venture between automaker Volkswagen and German private banker Friedrich von Metzler, is in talks with a group of investors to sell its Dutch car leasing unit LeasePlan.

The potential investors, who were not named, propose to finance the acquisition with an equity investment of at least 40%, cash-debt facilities of €1.55bn (£1.13bn, $1.67bn) and "an additional source of funding that is currently under discussion," Leaseplan said in a 31 March statement.

LeasePlan, which leases 1.42 million cars annually, also runs a small bank and because of its Dutch banking license, any deal must be approved by the Dutch central bank and the Netherlands Authority for Financial Markets (AFM).

"LeasePlan confirms that it has been informed that the discussions are still underway. LeasePlan emphasizes that these discussions may or may not result in an agreement.

"None of the debt raised by the Investors would be borrowed by LeasePlan and the company would not be responsible for the repayment of such debt. According to the Investors, it is expected that LeasePlan will maintain investment grade ratings allowing it continued access to the wholesale funding market directly," the firm added.

A consortium of state-backed, pension and private equity funds were reportedly in talks to acquire the world's biggest vehicle-leasing business from Volkswagen.

The cons‎ortium was being led by Dutch public sector pension fund PGGM, and a deal could be worth an estimated £2.5bn, Sky News reported earlier in the month.

Leaseplan, in February, reported a net profit of €372m for 2014.