ARRIVA Automotive Solutions is likely to have a new owner before the end of the year with GE Capital Fleet Services increasingly being tipped as the likely buyer. Arriva plc confirmed it was on target to complete the sale by the end of the year. The company remains the only leasing operator inside the top 15 in the UK not owned by either a financial institution or a manufacturer.

The Halifax was believed to have been one of the potential buyers of Birmingham-based Arriva Automotive Solutions - the largest component of the finance division of transport solutions group Arriva plc. However, Halifax's 50% purchase of Lex Vehicle Leasing effectively ends the bank's interest.

But Fleet NewsNet understands the bank was not on the final shortlist of prospective buyers. The final shortlist contains a 'handful of companies' and it is understood that GE Capital Fleet Services remains the favourite to buy the business.