FRANKFURT (Reuters) -Mercedes-Benz is in advanced talks with France's BNP Paribas about the sale of the German carmaker's leasing subsidiary Athlon, Bloomberg News reported on Wednesday. The sale is
Mercedes-Benz Negotiates Sale of Leasing Unit to BNP Paribas
Mercedes-Benz and BNP Paribas Leasing Deal
FRANKFURT (Reuters) -Mercedes-Benz is in advanced talks with France's BNP Paribas about the sale of the German carmaker's leasing subsidiary Athlon, Bloomberg News reported on Wednesday.
Details of the Sale
The sale is not yet certain as there are other interested parties, Bloomberg reported, citing several people familiar with the matter.
Market Context and Valuation
The subsidiary is valued at about 1 billion euros ($1.17 billion), it cited one of the sources as saying.
Company Statements and Future Plans
Mercedes, at the time Daimler AG, bought Athlon - one of the leading leasing providers in Europe, with a presence in 20 countries - from Dutch bank Rabobank in 2016 for $1.1 billion.
A Mercedes spokesperson said the company is continuously reviewing strategic options for its business, including Athlon.
BNP, which is already active in the vehicle leasing business through subsidiary Arval, was not immediately available for comment.
($1 = 0.8529 euros)
(Reporting by Ilona Wissenbach, writing by Miranda Murray, editing by Thomas Seythal)
