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Investing.com -- BNP Paribas SA (ETR:BNPP) is in advanced negotiations to purchase Mercedes-Benz (OTC:MBGAF) Group AG’s leasing business Athlon, Bloomberg reported on Wednesday, citing sources close to the discussions.
The potential deal values Athlon at approximately €1 billion ($1.2 billion), the report said.
While discussions between the French banking group and the German automaker are progressing, the sources emphasized that the negotiations remain ongoing with no guarantee of completion.
Other interested parties have also approached Mercedes-Benz about acquiring the leasing unit, meaning an alternative buyer could still emerge.
Neither company has made public statements regarding the potential transaction at this time.
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