SG Fleet Group Limited (ASX:SGF) to acquire LeasePlan for $273m

Company News

by Rachael Jones

SG Fleet Group Limited (ASX:SGF) has entered into an agreement to acquire the Australian and New Zealand businesses of LeasePlan for a cash consideration of $273 million and a 13 per cent equity interest in SG Fleet.

They aim to complete the transaction in the third quarter of this year, subject to satisfaction of conditions precedent.

They expect to generate about $20 million in pre-tax run-rate synergies per annum after migration of LeasePlan’s operations and systems.

Shares in SG Fleet Group Limited (ASX:SGF) shares last traded at $2.58.