SG Fleet buys trans-Tasman business of Euro giant

LeasePlan has sold its Aussie/NZ fleet business to SG Fleet.

Wed, 07 Apr 2021

ASX-listed fleet management and vehicle leasing group SG Fleet says it will acquire the New Zealand and Australian business of the European LeasePlan group in a cash and share deal valued at A$387 million (NZ$420m).The deal, expected to receive regulatory approval by mid-winter, will see SG Fleet pay A$273m in cash with LeasePlan taking a 13% equity interest in the new trans-Tasman entity.In a statement to the ASX, SG Fleet said the combined entity will have an enterprise value of A$2.5 billion, adding 103,000 vehicles to a total fleet of almos...

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