Arval confirms sale of fuel card subsidiary to FleetCor Technologies
AllStar is the UK fuel card business subsidiary of Arval, a wholly owned subsidiary of BNP Paribas. Inherited from a 2000 acquisition, the UK fuel card business was a unique activity within Arval benefiting from a multi-branded network and a full UK coverage.
In addition to providing FleetCor with a strong presence in the UK market, the transaction includes a commercial agreement between the two companies for at least the next five years. As a result, Arval will continue to provide fuel management solutions as part of its fleet management offer and the companies will work together to deliver fuel products and services to its customer base.
The transaction was simultaneously signed and completed on 13 December 2011.
Bart Beckers, General manager of Arval UK, commented: 'We believe that this sale is a very positive move for AllStar employees, partners and customers. FleetCor provides global expertise, scale, best practises and experience in the fuel card market. By working with them over the coming years, we expect our fuel management products and services to be enhanced further which will benefit our customers.'