Iveco Group to sell 51% of now fully-owned subsidiary GATE to vendor finance company DLL
The new JV structure "will provide GATE with strengthened financial backing and asset financing expertise, crucial for accelerating its growth strategy, driving its further development and expansion, and enabling it to achieve its ambitious objectives more efficiently and swiftly". The JV intends to further extend its reach to additional countries where both DLL and Iveco Group are already active and, over time, to offer similar solutions for other brands beyond IVECO.
Iveco Group and global vendor finance company DLL (De Lage Landen International B.V.), headquartered in the Netherlands, are entering into a joint venture to facilitate energy transition in Europe. As communicated by the two partners, DLL will acquire a majority interest (51%) in GATE, presently a fully owned subsidiary of Iveco Group, through a reserved capital increase.
Apparently, the new JV structure “will provide GATE with strengthened financial backing and asset financing expertise, crucial for accelerating its growth strategy, driving its further development and expansion, and enabling it to achieve its ambitious objectives more efficiently and swiftly”.
The GATE formula will be applied also beyond Iveco Group
So far, GATE started its activity in Italy in 2023. Later on, the company extended to France and Germany in 2024. The GATE joint venture intends to further extend its reach to additional countries where both DLL and Iveco Group are already active and, over time, to offer similar solutions for other brands beyond IVECO.
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“This collaboration with one of the top players like DLL opens a significant new chapter for GATE. We have found in DLL a partner who fully shares the spirit of innovation with which we have tackled the challenges of the energy transition. GATE was conceived as an innovative business model with the primary goal of supporting the energy transition for our customers. We are excited about the opportunities this collaboration will bring and look forward to the positive impact it will have on our business and on the future of sustainable mobility”, stated Simone Olivati, President, Financial Services, Iveco Group.
“One of DLL’s goals is to be a transition partner for a better world. We are serious about our energy transition strategy, which focuses on working with partners and customers to help them achieve decarbonization, by financing, also through rental solutions, more sustainable, cost-effective, and future-proof assets. In the past few years, we have been investing heavily in e-Mobility. Partnering with Iveco Group, a pioneer in more sustainable transport, perfectly fits into our strategy. We are delighted to be able to join forces with such a reputable player and can’t wait to start offering fullservice solutions together with Iveco Group through this new GATE Joint Venture”, added Lara Yocarini, Chief Executive Officer of DLL.
