Edenred becomes a world leader in Expense Management

Edenred today announces that it is exercising the call option enabling it to acquire, from the two founding families1, 17% of the capital of Union Tank Eckstein (UTA), the number two Europe-wide player in multi-brand fuel cards, toll solutions and maintenance solutions. Edenred already holds a 34% interest in the company.

  • As part of its Fast Forward strategic plan, Edenred is increasing its stake in UTA to 51% by exercising its call option on 17% of the company's capital.
  • Already number one in Latin America, Edenred is pursuing its growth in the corporate vehicle fleet management market by becoming the number two issuer of multi-brand Europe-wide solutions.
  • Edenred now manages 2.6 million fuel cards and toll solutions and close to 6 billion liters of fuel.

By increasing its stake in UTA to 51%, Edenred is taking a further step to speed up its growth in the expense management market. The Group intends to boost UTA's business in Europe by leveraging its expertise in fuel card solutions in Latin America and its own commercial presence in Europe.

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