RPT-Volkswagen sets venture to buy LeasePlan from ABN

Newswire

(Repeats to remove extraneous material at foot of story) FRANKFURT, May 26 (Reuters) - Volkswagen AG has formally set up a joint venture with two partners to acquire LeasePlan, Europe's leading car fleet-management firm, from Dutch bank ABN Amro , the German carmaker said on Wednesday. Under the accord, Volkswagen will have 50 percent of the venture, while Abu Dhabi's state-owned Mubadala Development Co and Saudi investment group Olayan will each have 25 percent, it said in a statement.

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