BNP Paribas said to be in advanced talks to buy Mercedes leasing unit

(Sharecast News) - BNP Paribas is reportedly in advanced talks to buy Mercedes-Benz Group's leasing unit Athlon. Bloomberg cited people familiar with the matter as saying that a deal could value the business at about €1 billion.

It was understood that deliberations are still ongoing and there's no certainty they will lead to a transaction.

Bloomberg said other parties have also expressed interest and another buyer could still emerge.

A sale of its car-leasing business is part of the broader review Mercedes is conducting on its operations. Bloomberg reported earlier this year that the company had approached potential buyers to gauge their interest in a deal.

Mercedes bought Athlon in 2016 from Dutch lender Rabobank for about €1.1bn, saying it would be merged into the carmaker's fleet management unit.

BNP Paribas is already involved in the car leasing business through its subsidiary Arval.