ALD Automotive has signed a memorandum of understanding (MoU) to acquire 100% of LeasePlan for a total sum of €4.9bn.

The proposed combination of ALD and LeasePlan to create NewALD will look to leverage the capabilities that each company offers. In a statement, ALD said the merger would benefit from a fast-growing market driven by trends, including the:

– Shift from ownership to usership on all fronts: B2B, B2C and even B2E4

– Data-driven digital transformation of the mobility industry

– Transition towards zero-emission and sustainable mobility

This deal would be a step-change with the aim for long term fleet growth of at least 6% per annum post-integration. NewALD would target an improvement in cost-to-income ratio to c.45% by 2025. Following the MoU and completion, the transaction is expected to generate operational and procurement synergies of EUR 380 million p.a. before tax.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Tim Albertsen, chief executive of ALD, said: “By combining the multiple strengths of ALD and LeasePlan, gaining size, joining forces in digital and creating a leading provider of sustainable mobility solutions, we would transform our industry and be best positioned to deliver even better solutions and value propositions to our enlarged client base.

“This transaction would create multiple opportunities to the joint management teams and talents of both companies, across geographies, underpin our focus on sustainability with a clear path to zero emissions mobility and not least deliver strong shareholder returns over the cycles. We are all very excited about the prospect of being part of this new venture.”

Tex Gunning, chief executive of LeasePlan, added: “The combined business would be instrumental in moving the automotive industry from ownership to subscription models and zero-emission mobility. By joining forces with ALD, we combine the best talents in the industry with the investment power needed to meet the next generation mobility needs of our customers.”