Crédit Agricole Consumer Finance announces with its partner Stellantis the acquisition of ALD’s activities in Ireland, Norway and Portugal, as well as LeasePlan’s activities in the Czech Republic, Finland and Luxembourg, representing a total fleet of more than 100,000 vehicles and total leasing assets of approximately 1.7 billion euros. These acquisitions follow the commitments made by ALD to the European Commission in connection with the proposed acquisition of LeasePlan by ALD.
The acquisition is carried out by Drivalia, CA Auto Bank’s rental and mobility company, and Leasys. It is followed by a division of the acquired scope between:
On the one hand, CA Auto Bank and Drivalia host the activities of ALD in Ireland and Norway and of LeasePlan in the Czech Republic and in Finland for a total of more than 70,000 vehicles.
And on the other hand, Leasys, the joint venture owned equally by Stellantis and CA Consumer Finance, host the activities of ALD in Portugal and LeasePlan in Luxembourg for a total approximately 30,000 vehicles.
This transaction consolidates the partnership between Crédit Agricole Consumer Finance and Stellantis and accelerate the development of the two companies in strategic European countries, in line with the ambitions of the two companies to be ranked among the European leaders in automotive financing.
CA Consumer Finance aims to make the entity formed by CA Auto Bank and Drivalia a pan-European leader in car financing, rental, leasing and mobility.
Moreover, Leasys aims to increase its fleet to one million vehicles by 2026 and to join the top 3 in the European LTR market by 2026.
All required authorizations from the relevant competition authorities and regulators have been obtained. This transaction has a positive impact on Crédit Agricole Consumer Finance’s net income and is expected to generate a Return on Investment in line with the Group’s policy. The impact on Crédit Agricole S.A.’s CET1 ratio will be below 10 basis points.
Stéphane Priami, Chief Executive Officer of Crédit Agricole Consumer Finance and Deputy General Manager of Crédit Agricole S.A. in charge of the Specialized Financial Services division specifies: «The acquisition of these six entities, together with Stellantis, is a great opportunity to accelerate our development and support the ambitions of Leasys and CA Auto Bank. This operation allows us to expand our European geographical footprint and demonstrates our desire to support the fundamental movement in terms of use and the evolution of consumption patterns in mobility.»
