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Arval has confirmed the acquisition of GE Capital's European leasing business, which makes the company Europe's largest leasing operator and number three in the UK, fewer than 3000 vehicles behind Leaseplan.
The European fleet size of the combined companies is 930,000, with the addition of 160,000 vehicle assets, amounting to around ?2.4bn (£1.7bn), across 12 European countries, making it larger than previous European leader Leaseplan.
Arval's UK chief executive Benoit Dilly told BusinessCar that the additional 28,000 UK units will add up to a combined 145,000 fleet. In the recent BC50, Leaseplan was number two in the UK at 147,276 units.