A joint venture between Ayala-led bank of the Philippine Islands and Tokyo Century Corp. (TCC) is acquiring the auto leasing and rental services business of the Diamond Group that will transform fleet management in the Philippines.
BPI Century Tokyo Rental Corp. (BPICTR) has signed a memorandum of understanding for the acquisition of Diamond IGB Inc. (DIGB), Diamond Fleet Solutions Inc. (DFSSI), and Buenaflor Car Services. Inc.
BPICTR is a wholly-owned subsidiary of BPI Century Tokyo Lease and Finance Corp. (BPICTL) – a joint venture between BPI and TCC.
With the operating lease expertise of BPICTR and the proven excellence in car rental and fleet management of Diamond, the deal highlights the expansion of services that will bring greater value to the existing client base and prospective customers of both groups.
“This agreement with Diamond aims to focus on differentiating strategies and customer service-oriented performance to achieve BPICTR’s vision to be the top rental solutions company of choice. This will enable us to meet the needs of our customers even better than before,” said BPICTR President and CEO Satoshi Matsuo.
It will add Diamond’s high-quality auto services—such as car rental, 24/7 customer service, maintenance and repair, and fleet management services—to the operating lease business of BPICTR.
“This alliance represents a strategic partnership between two industry leaders that have built a strong business relationship over the years and understand each other’s strengths. Our main goal is to benefit customers through enhanced product offerings and better service,” said Quincy S. Buenaflor, Managing Director of Diamond.
Diamond, a leading local company headquartered in Parañaque City, provides auto leasing and rental services across the country, as well as comprehensive vehicle services, including fleet management, through its group company, Diamond Fleet Solutions Services Inc., and vehicle repair and maintenance through Buenaflor Car Services Inc., known as Pronto.
