Eindhoven based DLL sells its car lease subsidiary Athlon Car Lease International B.V. to Mercedes-Benz Financial Services Netherlands BV, part of the worldwide Daimler Financial Services. The transaction involved an amount of Euro 1.1 billion. Athlon has been part of DLL for exactly ten years.

The sale is part of the strategic reorientation within Rabobank and the objective of improving the financial ratios. As a result of the transaction, Rabobank CET1 ratio will improve by approximately 40 points.

Athlon is active in 11 European countries and has a fleet of over 250,000 vehicles. Mercedes Benz Financial Services Netherlands BV is part of Daimler Financial Services, a global provider of financial services in more than 40 countries, with a fleet of more than 3.7 million vehicles. The future consolidated activities of Daimler Fleet Management and Athlon will operate under the brand name Athlon. Athlon will be 100 years old this year; to celebrate this, Athlon is organising a mobility conference in Eindhoven in September.

“Our decade at DLL has brought us great growth and a further expansion of our brand”, said Frans Janssen, CEO Athlon International. “To take the next step, both parties have spent extensive time on the outlook for Athlon and of course the interests of all stakeholders including customers, suppliers and employees. We are very pleased about our future with Daimler Financial Services. They are a reputable international organisation with a clear growth objective.”.

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Author profile picture Bart Brouwers is co-founder and co-owner of Media52 BV, the publisher of innovationorigins.com.