Mercedes in talks to sell leasing subsidiary to BNP, reports Bloomberg

Mercedes-Benz MBG is in advanced talks with France's BNP Paribas BNP about the sale of the German carmaker's leasing subsidiary Athlon, Bloomberg News reported on Wednesday.

The sale is not yet certain as there are other interested parties, Bloomberg reported, citing several people familiar with the matter.

The subsidiary is valued at about 1 billion euros ($1.17 billion), it cited one of the sources as saying.

Mercedes, at the time Daimler AG, bought Athlon - one of the leading leasing providers in Europe, with a presence in 20 countries - from Dutch bank Rabobank in 2016 for $1.1 billion.

A Mercedes spokesperson said the company is continuously reviewing strategic options for its business, including Athlon.

BNP, which is already active in the vehicle leasing business through subsidiary Arval, was not immediately available for comment.

($1 = 0.8529 euros)