LeasePlan Corp. — the European parent company of LeasePlan USA — announced on Thursday that it’s being acquired by a consortium of long-term investors.

Officials said the total value of the transaction amounts to about 3.7 billion Euros. They added the consortium plans to maintain LeasePlan’s diversified funding strategy going forward, supported by its investment grade rating.

The agreement is subject to approval by the relevant regulatory and anti-trust authorities, including the European Central Bank in consultation with the Dutch Central Bank.

The company indicated the closing is expected by the end of 2015 and is subject to obtaining these regulatory and anti-trust approvals.

LeasePlan highlighted the Consortium is composed of a group of long-term investors and includes:

— Dutch pension fund service provider PGGM
— Denmark’s largest pension fund ATP
— GIC
— Luxinva S.A., a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA)
— The merchant banking division of Goldman Sachs
— Investment funds managed by TDR Capital

“The consortium supports LeasePlan’s existing long-term strategy and growth ambitions and recognizes the expertise of its workforce as a key asset for successfully executing this strategy,” officials said.

“The consortium brings financial services sector experience, additional strategic experience as well as a strong track record of successful long-term investing,” they continued.

“LeasePlan will continue its drive for the delivery of high quality fleet management and driver mobility services for its clients,” officials went on to say.

Looking back at LeasePlan’s 2014 performance, the company highlighted that its results showed a successful continuation of its strategic path of sustainable growth with total assets up 3 percent to 19.7 billion Euros and net profit up 14 percent to 372 million Euros.

The total number of vehicles under management increased from 1.37 million in 2013 to 1.42 million at the end of last year.

Eric-Jan Vink of PGGM, on behalf of the consortium, said, “As market leader in the global fleet management business, LeasePlan offers an attractive long-term investment opportunity. We are investing in the future of a company with an unmatched portfolio of market-leading assets, a highly knowledgeable and dedicated employee base and a sound strategy for the future, under highly experienced management.

“The consortium looks forward to supporting the management team as they focus on growing the business,” Vink added.

LeasePlan has been informed that the consortium intends to finance the acquisition with an equity investment of approximately half of the total purchase price, a mandatory convertible note of 480 million Euros and a cash-pay debt facility of EUR 1.55 billion Euros.

Officials noted the debt facility is being provided by an international syndicate of lenders. They added none of the debt raised by the investors would be borrowed by LeasePlan and the company would not be responsible for the repayment of such debt.

The consortium plans to maintain LeasePlan’s diversified funding strategy going forward, supported by its investment grade rating.

Furthermore, the consortium supports LeasePlan’s existing management and strategy as Vahid Daemi will continue to lead the organization as chief executive officer and chairman of the managing board.

“The change of ownership announced today marks a new era for our company and will enable LeasePlan to continue our successful journey and focus on executing our long-term strategy and growth ambitions,” Daemi said.

“We remain fully committed to providing high quality and innovative fleet management and driver mobility services to our clients worldwide,” Daemi continued.

Officials indicated LeasePlan will continue to operate as a strategically and operationally independent company. The consortium intends to appoint additional independent members to the supervisory board so that on the closing of the transaction the majority of the members of the Supervisory Board will comprise of independent non-executive members.

The new management added LeasePlan will maintain its strong focus on client and employee satisfaction.

“Current arrangements with the works councils and relevant trade unions will be maintained,” officials said. “The consortium has no plans to make material changes to locations where LeasePlan does business or conditions of employment of the workforce.”