SG Fleet (ASX:SGF) receives green light on acquisition of Leaseplan

Company News

by Melissa Darmawan

The foreign investment review board have given their thumbs up to the proposed acquisition of LeasePlan Australia by SG Fleet (ASX:SGF).

The proposal would see SG Fleet acquire LeasePlan for $273 million with a 13 per cent equity interest. Following the acquisition, SG Fleet will become ANZ’s largest fleet management organisation with a combined fleet of 250,000 vehicles and valued at $2.5 billion.

The acquisition comes with an international alliance agreement which will see the two companies provide customer and business opportunity referrals and product know-how to each other.

SG Fleet remains on track to complete the acquisition in the third quarter of 2021.

Shares in SG Fleet (ASX:SGF) are trading 1.03 per cent lower at $2.87.

 

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