Alphabet strengthens position in European fleet management market through ING Car Lease acquisition

Major step to be the leading provider of mobility services Amsterdam/Munich. Alphabet, the international multi–brand fleet management division of BMW Group, will further strengthen its European market position through the acquisition of ING Car Lease, a division of ING Groep N.V. The purchase price amounts to EUR 637 million. The transaction is expected to close in the fourth quarter of 2011, subject to regulatory approvals.