Mercedes Sells Athlon Leasing Business to BNP Paribas in Major European Deal
Key Details of the Athlon Leasing Acquisition
Overview of the Transaction
BERLIN, April 29 (Reuters) - Mercedes-Benz has signed a deal to sell its leasing subsidiary Athlon to France's BNP Paribas and is expected to free up hundreds of millions of euros in liquidity, the German company's finance chief said on Wednesday.
The premium carmaker decided to sell Athlon at the end of last year and signed the contract with BNP Paribas in April, according to its quarterly earnings report. The transaction is expected to close in the second half of the year pending regulatory approvals.
Mercedes did not give details on the price.
Athlon’s Market Position
Athlon is one of the leading leasing providers in Europe, with a presence in 20 countries.
Historical Background
Mercedes, at the time Daimler AG, bought the business from Dutch bank Rabobank in 2016 for $1.1 billion.
BNP Paribas’ Expansion in Vehicle Leasing
BNP is already active in the vehicle leasing business through its subsidiary Arval.
Financial Impact on Mercedes
Mercedes finance chief Harald Wilhelm said the transaction could contribute up to 1 billion euros in liquidity, "and that will, of course, also benefit our cash generation in 2026".
Future Outlook
(Reporting by Rachel More; editing by Matthias Williams)
