Element Fleet proposes A$820 million takeover of FleetPartners

Element Fleet Management has put forward a proposal to acquire FleetPartners Group for approximately A$820 million, according to reports on the transaction. A combination would extend Element Fleet's fleet management footprint into Australia and New Zealand, where FleetPartners provides vehicle leasing, novated leasing and fleet management services. The proposal is one of two sizeable approaches to Australian listed companies disclosed in the same period, alongside I Squared Capital's A$898 million agreement to acquire out-of-home advertising group oOh!media.