Société Générale: in exclusive talks to buyout Sternlease BV
(CercleFinance.com) - Société Générale's automotive subsidiary ALD has entered into exclusive talks with Stern Groep for the acquisition of SternLease B.
V. A distribution agreement is also being discussed between both parties.
This acquisition would strengthen ALD's offer to SMEs and clients in the Netherlands. The company would therefore be in 5th place on the market.
"SternLease B.V. is the leasing subsidiary of Stern Groep, the Dutch listed market leader in automotive retail. It has a fleet of c. 12,500 vehicles rented to SMEs & private individuals in the Netherlands and provides leasing services through direct distribution and Stern's dealers network of 85 local dealerships," the group said.
In the Netherlands ALD Automotive currently manages a fleet of around 50,000 contracts with large companies, SMEs and individuals.
Copyright (c) 2019 CercleFinance.com. All rights reserved.