Sale of Athlon to Daimler Financial Services Finalized

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EINDHOVEN, the Netherlands, Dec. 1, 2016 /PRNewswire=KYODO JBN/ --

    DLL, a Rabobank subsidiary and global provider of asset-based financial

solutions, confirmed the sale of its mobility solutions entity Athlon Car Lease

International B.V. including all its subsidiaries to Daimler Financial

Services, a division of Daimler AG.  

    The sale transaction, announced in July 2016 and valued at EUR 1.1 billion,

recently received final approvals and consents from the necessary regulatory

authorities. The company will continue to operate under the Athlon brand name,

with the current offices of Athlon in Almere, The Netherlands, serving as

headquarters for the newly integrated fleet management company.  

    "We now hand over our vehicle leasing business to a company that possesses

all prerequisites to continue Athlon's track record of success", stated Bill

Stephenson, CEO and Chairman of the Executive Board of DLL. "This is the right

step for Athlon and the right step for DLL, who can now wholly focus all of its

resources, investments and innovation toward our core business of vendor

finance, and create greater synergies with our parent, Rabobank."

    Wiebe Draijer, CEO of Rabobank, commented: "This sale represents a positive

outcome for all parties.  Athlon now has the opportunity to grow under the

leadership of Daimler Financial Services, and DLL will further sharpen its

vendor finance focus and continue to fulfil an important strategic role in our

overall product portfolio. The transaction will also improve the Common Equity

Tier One (CET1) ratio of Rabobank by approximately 40 basis points, which is

fully in line with our ambition to further strengthen our capital position."

http://www.dllgroup.com

Twitter: @DLLgroup

    LinkedIn company page: http://www.linkedin.com/company/dllgroup

SOURCE: DLL