BNP Said to Be in Advanced Talks for Mercedes-Benz’s Leasing Arm

BNP Paribas SA is in advanced talks to acquire Mercedes-Benz Group AG’s leasing unit Athlon, according to people familiar with the matter.

The deal could value the business at about €1 billion ($1.2 billion), one of the people said, asking not to be identified because the negotiations are private. Deliberations are still ongoing and there’s no certainty they will lead to a transaction, the people said. Other parties have also expressed interest and another buyer could still emerge.

Representatives for BNP and Mercedes declined to comment.

A sale of its car-leasing business is part of the broader review Mercedes ...