Arval finalizes acquisition of Athlon and becomes European co-leader with 2.3 million vehicles
Arval, the long-term vehicle leasing subsidiary of BNP Paribas group, has finalized the acquisition of Athlon, formerly held by Mercedes-Benz Group. The operation brings the combined fleet to 2.3 million vehicles, positioning the two entities as European co-leaders in the sector.
A strategic acquisition finalized
Arval's acquisition of Athlon has been finalized according to the announced timeline. The entry into exclusive negotiations was initiated on December 18, 2025, followed by obtaining all authorizations from the competent authorities and the conclusion of information and consultation procedures with employee representative bodies.
This operation targets the creation of a leading player in Europe in long-term vehicle leasing. The resulting combined fleet reaches 2.3 million vehicles, placing the entity in a co-leader position on the European market.
Return on invested capital of 18% and controlled capital impact
The expected return on invested capital from the operation stands at 18%. At the end of the third year, the acquisition is estimated to contribute positively to the Group's net income for an amount of approximately €200 million.
The estimated impact of this operation on the CET1 ratio amounts to approximately -13 basis points. BNP Paribas specifies that this effect is already integrated into the Group's capital trajectory, signaling controlled absorption through internal consolidation mechanisms.
Integration and synergies to be presented at a Deep Dive in the first half of 2027
This operation is part of BNP Paribas's strategy to develop its profitable platforms on growing markets and to improve the Group's profitability profile through targeted growth levers.
The Group will detail the combined trajectory of Arval and Athlon at a dedicated Deep Dive in the first half of 2027, providing visibility on the expected integration and synergies.
