Reuters reported, citing a source familiar with the plan, that Volkswagen is in talks to sell a 50% stake in financing arm LeasePlan to a consortium as the carmaker cuts costs and refocuses its business.

Reuters noted the carmaker owns VW Leasing, its own in-house leasing business, and is increasingly relying on its Volkswagen Financial Services arm, making it harder to justify holding a stake in a third-party leasing business.

Reuters said, according to the source, a sale of the whole of LeasePlan could fetch up to 3 billion euros ($3.2 billion).

To view the full Reuters report, click here.