ARVAL AND RELSA COMPLETE THEIR JOINT VENTURE IN SOUTH-AMERICA
Arval and Empresas Relsa today announced they have completed their joint venture (JV) in Chile and Peru, first announced last December, while Arval Brazil also confirms the purchase of Relsa’s activities in the country. Arval, is a major player in the full-service leasing of vehicles to companies, and Empresas Relsa, a key actor operating in the same sector in Chile, Peru and Brazil.
Ten years since it entered Brazil, Arval is increasing its footprint in South-America via this agreement with Empresas Relsa. Empresas Relsa now become Arval Relsa, the leading player in the full service leasing industry in Chile and Peru, with a total fleet of over 9,000 vehicles under management in these two countries.
In Brazil, Arval takes over the existing activities of Relsa. With 2,500 vehicles added to its fleet thanks to this acquisition, Arval Brazil total leased fleet now reaches the milestone of 20,000 vehicles.
The total combined leased fleet in the 3 countries of Arval Brazil and Arval Relsa is expected to reach around 30,000 leased vehicles. The Element-Arval Global Alliance is thus strengthening its Latin America footprint and will be able to provide the best products and services across the region.