EDEN PRAIRIE, Minn. -- GE Capital Fleet Services announced Friday, Aug. 31, that it has signed an agreement to purchase Associates Fleet Services, headquartered in Mississauga, Ontario, Canada. Details of the transaction were not disclosed. Completion of the deal is expected in September, subject to regulatory approvals.
Associates Fleet Services, owned by CitiGroup's CitiCapital unit, represents approximately US$490 million in assets, with more than 50,000 vehicles under lease and service management in Canada. Other Associates regional office locations include Montreal, Calgary, Vancouver and Edmonton.
