ARVAL AND RELSA TO SET UP A JOINT VENTURE IN SOUTH-AMERICA
Arval, a subsidiary of BNP Paribas and an expert in the full-service leasing of multi-brand vehicles to companies, today announced it has signed an agreement with Empresas Relsa, a company specialising in full service vehicle leasing in Chile, Peru and Brazil.
The signature of this agreement will lead to the creation of Arval Relsa joint-ventures in Chile and Peru, while Arval Brazil will take over the existing activities of Relsa in this country.
Arval set up its activity in Brazil in 2005, and has since then grown strongly both in number of clients and in leased vehicles, reaching today more than 17,500 vehicles. Ten years since it entered Brazil, Arval is increasing its footprint in South-America via this agreement with Empresas Relsa, the leading player in the full service leasing industry in Chile and Peru and with operations in Brazil, with a total fleet of over 12,000 vehicles under management.
Arval and Relsa will combine their strengths in constructing the joint-ventures: Relsa’s knowledge and experience of the local markets, and Arval´s advanced fleet management techniques, its global networks and worldwide best practices. The total leased fleet in the 3 countries is expected to reach around 30,000 leased vehicles once the transaction is completed.
Arval CEO Philippe Bismut said “By bringing together Arval and Relsa in South-America, we become a leader in full service leasing in the region. We have always believed this to be a promising market for our industry and I am delighted to join forces with Relsa, in order to best position both groups to capture opportunities in the region. Finally, thanks to this deal, the Element-Arval Global Alliance – the longest standing strategic alliance in the fleet management industry – is strengthening its presence in the 5 continents, and demonstrates its continued commitment to support and accompany its customers, internationally.”
Gonzalo Yarur, vice-president of RELSA, said that “We are very pleased with this association that endorses our work during the last 38 years. We are partnering with one of the industry leaders, presenting us with a great growth opportunity in Chile and the region.”
The completion of the transaction is expected in the first quarter of 2016.