Arval, a subsidiary of BNP Paribas, completed the acquisition of GE Capital's European fleet services business. With this acquisition, Arval becomes number one in Europe in full service multi-brand vehicle leasing. The scope of the transaction included more than 160,000 vehicles in 12 European countries, with total vehicles assets amounting to around EUR 2.4 billion. The deal is part of a global transaction in which Element Financial, Arval's strategic partner in North America, acquired GE Capital Fleet Services’ businesses in the United States, Mexico, Australia and New Zealand.