France-based car leasing company ALD has completed the acquisition of its Netherlands-based counterpart LeasePlan in a cash and stock deal worth €4.8 billion ($5.2 billion U.S.).
“This transformative acquisition represents a step change, which positions the combined group as the leading global sustainable mobility player with a total fleet of 3.3 million vehicles managed worldwide. By joining forces, ALD and LeasePlan will lead the way to net zero and further shape the digital transformation of the industry,” ALD said in a news release.
“The combined entity will leverage on scale and complementary capabilities to strengthen its competitiveness and deliver sustained growth, while generating €440 million annual run rate synergies.”
“With strong recurring margins and enhanced resilience through the economic cycle, ALD targets to achieve best-in-class efficiency and to provide attractive shareholder returns.”
In January 2022, ALD Automotive reached an agreement to acquire LeasePlan from a consortium led by TDR Capital, and EU regulators conditionally approved the deal in November.