The European Commission has approved the acquisition of six European subsidiaries of ALD Automotive and LeasePlan, a condition imposed by Brussels last November to give the final go-ahead for the integration of LeasePlan into ALD’s assets in order to avoid potential unfair competition in certain regions of Europe.
Under the EU Merger Regulation, the EC has given the go-ahead for Credit Agricole Consumer Finance to acquire sole control of ALD Automotive’s subsidiaries in Ireland, through Merrion Fleet Management Limited, and Norway, through the purchase of ALD Automotive AS.
Crédit Agricole will also control LeasePlan Finland Oy, based in Finland, and LeasePlan Çeská republika s.r.o., based in the Czech Republic.
Together, these companies account for a volume of 70,000 units, as specified by ALD Automotive last March.
The deal is completed by the leasing company Leasys, which is 50% owned by Crédit Agricole Consumer Finance and Stellantis, which will manage the assets of LeasePlan Luxembourg S.A., based in Luxembourg, and SGALD Automotive (Sociedade Geral de Comercio e Aluguer de Bens, S.A.), based in Portugal.
The number of vehicles involved in this operation is 30,000 units.
ALD Automotive expects the full integration process of all LeasePlan operations into its business to be consolidated in the next year or year and a half.
