Crédit Agricole: acquires ALD and LeasePlan subsidiaries
(CercleFinance.com) - Crédit Agricole Consumer Finance has announced the signing of a memorandum of understanding with Stellantis for the acquisition of six European subsidiaries of ALD and LeasePlan, following the acquisition of 100% of the capital of LeasePlan by ALD, announced in January 2022.
The transaction covers ALD's operations in Ireland, Norway and Portugal, as well as LeasePlan's operations in the Czech Republic, Finland and Luxembourg, representing a total fleet of over100,000 vehicles and total outstandings of approximately 1.7 billion euros.
This transaction would reinforce the partnership between Crédit Agricole Consumer Finance and Stellantis, through a new joint venture announced in December 2021, which aims to increase its fleet to one million vehicles by 2026.
The transaction is expected to have a positive impact on Crédit Agricole Consumer Finance's earnings, and should generate a return on investment in line with the group's policy. The deal's completion, which is expected in 2023, is subject to the usual conditions precedent.
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The transaction covers ALD's operations in Ireland, Norway and Portugal, as well as LeasePlan's operations in the Czech Republic, Finland and Luxembourg, representing a total fleet of over100,000 vehicles and total outstandings of approximately 1.7 billion euros.
This transaction would reinforce the partnership between Crédit Agricole Consumer Finance and Stellantis, through a new joint venture announced in December 2021, which aims to increase its fleet to one million vehicles by 2026.
The transaction is expected to have a positive impact on Crédit Agricole Consumer Finance's earnings, and should generate a return on investment in line with the group's policy. The deal's completion, which is expected in 2023, is subject to the usual conditions precedent.
Copyright (c) 2023 CercleFinance.com. All rights reserved.