LeasePlan is claimed to be one of the world’s leading leasing firms. Credit: CHUTTERSNAP on Unsplash.

ALD Automotive, a unit of the French financial services group Society Generale, has raised around €1.2bn via a preferential subscription rights issue.

The capital increase marks a significant step to acquire LeasePlan, which is now expected to close in the first quarter of 2023.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

ALD Automotive issued over 161 million new shares, with a subscription price of €7.5 per share.

ALD CEO Tim Albertsen stated: “I am delighted with the success of our rights issue, which was largely oversubscribed. I would like to thank our existing shareholders for their continued support and welcome new investors in our capital.

“ALD has completed a key step towards the creation of the leading global sustainable mobility player. Both ALD and LeasePlan teams are looking forward to joining forces and generating value for our customers and our shareholders.”

The rights issue comes after ALD received main regulatory approvals and met all expected anti-trust conditions precedent, last month.

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.

The French bank, which owns a majority stake in ALD, subscribed shares worth approximately €803m, representing around 66.3% of the rights issue.

In January this year, ALD signed a €4.9bn deal to buy 100% of LeasePlan, which is claimed to be one of the world’s leading leasing firms with some 1.9 million vehicles and is active in over 30 countries.

The firm is owned by a consortium led by private equity company TDR Capital.

The proposed merger of ALD and LeasePlan will create NewALD, which is expected to have a combined fleet of 3.5 million vehicles.