Leaseplan does not go public for the time being
The car leasing provider and Fleet Manager Leaseplan is one of the largest in Europe. Now the company blows off the planned IPO in the Netherlands. The stock market environment is simply too weak, they say.
The car leasing provider and fleet manager Leaseplan puts its plans for an IPO on hold. Since the announcement last week, the stock market environment has deteriorated significantly, said the Dutch company on Thursday.
Whether Leaseplan still dares to go to the floor at a later date, said a corporate spokeswoman.
With a fleet of around 1.8 million vehicles – 500,000 of which the company only manages – Leaseplan is one of the largest providers in Europe.
Amsterdam Stock Exchange: Here Leaseplan wanted to be listed, but has now canceled the IPO
It was not until October 4 that the company publicized its plans for an issue in the fall on the Amsterdam Stock Exchange. Since then, markets have plummeted, strengthening on late Wednesday and early Thursday. The stock market index in Amsterdam alone lost 6 percent in value last week.
Three years ago, Leaseplan was sold by Volkswagen and the Frankfurt banker Friedrich von Metzler to a consortium of TDR Capital, several pension funds, Goldman Sachs and the sovereign wealth funds of Singapore (GIC) and Abu Dhabi (ADIA) for 3.7 billion euros. In addition to leasing and fleet management, Leaseplan builds up second-hand trade in used-car sales, especially the returned leasing car.
rei / Reuters