ITC group company, International Travel House (ITH), has divested 49 per cent equity in LeasePlan India to the Netherlands-based LeasePlan Corporation (formerly ABN AMRO Lease Holding NV), making it a wholly-owned subsidiary of the foreign company.The move is part of LeasePlan’s global consolidation programme. The company is likely to introduce some of its global brands in the Indian automotive services market. The consolidated assets of the company amount to Euro 10.6 billion for calendar year 2002. The total contract orders worth Euro 9.5 billion were secured by LeasePlan for the period.The change in name signifies transformation of the company from a financial services provider to a financial group offering a broad range of automotive services. The change is the part of company’s recast where it is aligning the organisation and the product range with the current needs of the fleet management market and automotive industry, according to a company official.With presence in 26 countries, besides ‘LeasePlan,’ the company has brands like ‘Carvantis,’ which leases vehicles to private clients, ‘Keddy,’ specialsing in short duration hirings and ‘QEK Global Solutions,’ providing vehicle lifecycle asset management services for the automotive industry. While Carvantis has a presence in France, QEK operates in US, the United Kingdom, the Netherlands and Australia.
