The 51 per cent acquisition by AALH in ITHF marks the Dutch firm's foray into the leasing and hire-purchase business in the country, and will complement its fleet-management services to be launched shortly. AALH is engaged in diverse businesses, including providing fleet-management services in the transportation sector. The company's business is undertaken in different parts of the world through subsidiary companies under various labels. AALH has a total asset base of 12 billion guilders and posted a net profit of 150 million guilders in 1997.

ITHF -- now Lease Plan India Ltd -- was set up as Classic Travels (P) Ltd in February 1988 with travel and tourism as its main objects. The company became a wholly-owned subsidiary of International Travel House Ltd(ITH) belonging to the ITC group in July 1993.

Subsequently, in December 1994, Classic Travels' business scope was enlarged to include financial services and in January 1995 was renamed ITH Finance Ltd. The company's main activities included leasing and hire purchase of vehicles, computer and office equipments and corporate advisory services. At present, Lease Plan India Ltd is in the process of filing a fresh registration with the Reserve Bank of India now that its net-owned funds exceed Rs 25 lakh.

ITH -- part of the ITC group -- which will now hold a 49 per cent stake in ITHF, is a leading player in the travel and tourism industry. Its main activities are air-ticketing, money-changing, car rentals, tours, freight forwarding and leisure packages to golf resorts. ITH's subsidiary, Vins Overseas India Ltd, is the sole franchisee in the country for Europcar, a premium name in international car rentals.

AALH has among its varied interests, fleet management, apart from leasing and hire-purchase, whichinvolves: