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Car rental: ALD increases its capital by 1.2 billion euros to acquire LeasePlan

2022-11-29T08:45:22.836Z

Societe Generale wishes to remain ALD's main shareholder, with 53% of the capital following the acquisition.



Societe Generale announced Tuesday the launch of a capital increase of its subsidiary ALD, specialist in the rental of long-term vehicles, for an amount of 1.2 billion euros, including 803 million provided by the banking group.

This operation is carried out within the framework of the acquisition by ALD of its Dutch competitor LeasePlan, the European leader in car leasing, for 4.9 billion euros, which obtained the green light from the European Commission last week.

The capital increase "

marks a major step in the creation of a major global player in sustainable mobility, benefiting from very complementary expertise

", specifies Société Générale in a press release.

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The banking group, which currently holds 79.8%, plans to remain the majority shareholder of ALD "

over the long term

" with 53% of the capital at the end of the acquisition.

He undertook to guarantee the capital increase and not to sell his shares for a period of 40 months after the completion of the acquisition.

The European Commission, guardian of competition in the EU, gave the green light to the takeover project on Friday.

Brussels feared that the operation would "

considerably reduce

" competition in certain markets, but ALD has undertaken to sell its activities in the six countries concerned (Czech Republic, Finland, Ireland, Luxembourg, Norway and Portugal).

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ALD, which is currently present in more than 40 countries, plans to complete the operation in early 2023 and should then be strong with a fleet of 3.5 million vehicles, in a booming market in the long-term rental segment. duration.

Source: lefigaro

All business articles on 2022-11-29

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