(CercleFinance.com) – RCI Banque, the financing subsidiary of the Renault group, announced on Monday that it had reached an agreement to sell its Russian leasing subsidiary to Insight Investment Group.
In a brief statement, the French bank – specializing in automotive financing and services for customers and networks – explains that the Russian private equity fund will take over 100% of RNL Leasing LLC and its subsidiary RNL Finance LLC.
“This sale represents the last step in the withdrawal of RCI Banque SA from the Russian Federation, in accordance with the decision taken by Groupe Renault in 2022”, explains the car manufacturer, which did not disclose the financial details of the operation. .
Established in 35 countries, RCI Banque, which operates under the Mobilize Financial Services brand and has nearly 4,000 employees, financed nearly 1.2 million new and used vehicles last year.