Volkswagen, Metzler Terminate LeasePlan Sale Talks

LeasePlan Corp.’s owners, Volkswagen AG and Bankiers Friedrich von Metzler, have terminated talks for a sale of the Dutch fleet-management company.

Its owners have no plans to pursue further options that could lead to a sale in the near future, the Almere, Netherlands-based company said Thursday in a statement.

A group led by private equity firm TDR Capital LLP was in talks to buy LeasePlan, which says it’s the world’s biggest fleet manager, for about 3 billion euros ($3.22 billion), according to people familiar with the situation.

LeasePlan manages 1.42 million vehicles spread across 32 countries. It posted net income last year of 372 million euros, a gain of 14 percent. VW and Metzler, a private German bank, each hold 50 percent of the company. The Wolfsburg, Germany-based automaker acquired its stake in LeasePlan in 2004 as part of a 2 billion-euro deal.

LeasePlan said its owners will continue to support its existing business plan.

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