PARIS (Reuters) – ALD, the car rental subsidiary of Societe Generale, announced on Wednesday the sale to Credit Agricole Consumer Finance and Stellantis of ALD and LeasePlan activities in six European countries.
In a press release, ALD said that these disposals would take place under the commitments made by ALD to obtain the approval of the European Commission for its project to take over the Dutch company LeasePlan.
The agreement concerns ALD subsidiaries in Ireland, Norway and Portugal, as well as LeasePlan subsidiaries in the Czech Republic, Finland and Luxembourg, representing a total fleet of more than 100,000 vehicles and a total outstanding of approximately 1.7 billion euros, specify in a press release CA Consumer Finance, subsidiary of consumer credit of Crédit Agricole, and Stellantis.
The completion of the transaction “is subject to the obtaining of regulatory and competition authorizations, and to the completion of the acquisition of LeasePlan by ALD”, indicates ALD, which adds that it intends to finalize the acquisition of LeasePlan for 4.9 billion euros at an extraordinary general meeting on April 28.
(Written by Jean-Stéphane Brosse, edited by Matthieu Protard and Kate Entringer)
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