Rabobank said on Friday it had agreed to sell its Athlon car leasing business to Daimler Financial for 1.1 billion euros ($1.22 billion).
Daimler plans to integrate Athlon, which manages a fleet of 250,000 vehicles in 11 European countries, into its own Daimler Fleet Management.
Athlon is part of Rabobank’s DLL unit, one of the world’s largest vendor financing companies.
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