The owner of half of international fleet
management and leasing company LeasePlan is looking to buy out its
partners.

Volkswagen AG, which owns half of
LeasePlan, has signalled its intention to purchase the 25 per cent
stakes owned by two investment funds, Olayan Group of Saudi Arabia
and Mubadala Development Co of Abu Dhabi.

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Olayan Group and Mubadala have exercised
sell options on their shares, which Volkswagen hopes to buy at the
beginning of 2010, the carmaker said.

LeasePlan’s UK subsidiary is the
second-largest fleet management and leasing company in the country,
with 130,000 units.

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