LeasePlan Corp. N.V. on Jan. 23 announced that Volkswagen AG is in negotiation with The Olayan Group and Mubadala Development Company to acquire their individual 25% stakes in LeasePlan.

The move follows the exercising of a put option by Olayan and Mubadala.

"Volkswagen hopes to take over the shares beginning of 2010,"  LeasePlan stated.

LeasePlan was originally acquired by Volkswagen, Olayan and Mubadala in 2004 from Dutch bank ABN Amro.

Volkswagen is Europe's biggest carmaker.  LeasePlan is a major car-fleet management company based in the Netherlands.

www.leaseplan.com