Arval completes Athlon acquisition to create European leasing powerhouse

Arval has completed its acquisition of Athlon from Mercedes-Benz Group, creating one of Europe’s largest long-term vehicle leasing and mobility providers with a combined fleet of 2.3 million vehicles.

The transaction, first announced in December 2025 when the two companies entered exclusive negotiations, has now been finalised following completion of employee consultation processes and receipt of all necessary regulatory approvals.

The acquisition marks a significant milestone in the European fleet leasing market, positioning Arval as a European co-leader in long-term vehicle leasing while strengthening its ability to support corporate customers with a broader range of mobility solutions across the continent.

From 31 July 2026, Athlon officially became part of the Arval BNP Paribas Group, bringing together two established leasing businesses with complementary geographic footprints, expertise and customer bases.

The enlarged business will combine a fleet of approximately 2.3 million vehicles and is expected to benefit from greater scale, enhanced operational capabilities and increased investment in innovation and future mobility services.

In a statement following completion of the deal, Athlon said: “This strategic step brings together two complementary businesses, creating one of Europe’s leading mobility players with a combined fleet of 2.3 million vehicles.

“Together, our capabilities will enable us to support customers across Europe with an even broader range of mobility solutions. We will benefit from additional expertise, experience and scale, allowing us to continue investing in innovation, service improvements and the future development of our mobility solutions.

“Whilst our ownership has changed, our commitment remains the same: We are focused on continuing to serve our customers and partners with the same high level of service, support and dedication that they have come to expect from us. We are excited to build on our combined expertise and shape the future of mobility together with our new colleagues at Arval.”

The acquisition also represents an important strategic investment for BNP Paribas, supporting the banking group’s ambition to expand its presence in high-growth, profitable business lines.

BNP Paribas expects the transaction to generate a return on invested capital (ROIC) of around 18%, while contributing approximately €200 million to the Group’s net income attributable to shareholders by the third year following completion.

The deal is expected to have a limited impact on the Group’s capital position, with an estimated Common Equity Tier 1 (CET1) ratio effect of around -13 basis points, an impact already incorporated into BNP Paribas’ capital planning.

The Group said the acquisition aligns with its strategy of strengthening profitable platforms in growth markets and enhancing long-term profitability through targeted investments and acquisitions.

Further details on the strategic roadmap for the combined Arval and Athlon business will be presented during a dedicated investor Deep Dive event planned for the first half of 2027.