UPDATE 1-New venture moves Abu Dhabi closer to VW stake


(Adds background, stock price) FRANKFURT, May 26 (Reuters) - Volkswagen AG has set up a joint venture with two partners to acquire Europe's leading car fleet-management firm LeasePlan from Dutch bank ABN AMRO , the carmaker said on Wednesday. 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 of the company that is buying LeasePlan for two billion euros ($2.42 billion). The ...

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