RBS have put Lombard Vehicle Management up for
sale with GE Capital rumoured to be in negotiations for the
purchase.
The 84% tax payer-owned bank intends to sell
the vehicle management unit as part of their ongoing commitment to
reducing their balance sheet by shedding non-core assets.
Go deeper with GlobalData
The sale will include car and van leasing arm
Lombard Vehicle Management only and RBS will retain the remaining
Lombard businesses.
An official spokesperson for RBS said: “RBS
continues to explore options for the future of its Lombard Vehicle
Management business as part of the Strategic Plan announced in 2009
to return RBS to standalone financial strength.
“We will make any further announcements as and
when appropriate.”
Leasing Life understands talks are underway
but are not a stage where a deal is certain to emerge.
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By GlobalDataLombard is one of the UK’s biggest vehicle
leasing companies with a fleet of around 80,000 cars and vans.
GE Capital is one of the largest fleet
operators worldwide with 1.5 million vehicles globally. The GE
Capital UK fleet is just over 45,000.
GE Capital declined to comment on reports of
the sale.
RBS is also rumoured to be in the process of
selling its aviation leasing arm RBS Aviation Capital for a price
of around $6-8 billion (£3.6-4.8bn).
grant.collinson@vrlfinancialnews.com
