Closure of ALD acquisition of LeasePlan pushed back until May

ALD Automotive has pushed back the extraordinary general meeting, when the acquisition of LeasePlan will be completed, from this month to the end of May.

The meeting had been planned for Friday (April 28), but this will now take place on May 22.

ALD Automotive said it is awaiting the agreement from the European Commission of Credit Agricole Consumer Finance1 as the buyer for ALD’s subsidiaries in Ireland, Portugal and Norway, as well as LeasePlan’s subsidiaries in Luxembourg, Finland and the Czech Republic.

ALD was required to sell off its subsidiaries in Ireland, Portugal and Norway, as well as LeasePlan’s subsidiaries in Luxembourg, Finland and the Czech Republic, to Credit Agricole Consumer Finance and Stellantis in order to receive clearance by the European Commission for the acquisition of LeasePlan.

ALD agreed to buy LeasePlan for €4.9 billion (£4.1bn), with the new leasing powerhouse to be called NewALD, in January 2022. 

LeasePlan is one of the world's largest leasing companies, with approximately 1.9 million vehicles in more than 30 countries.

In the UK, LeasePlan was ranked as the fourth largest leasing company, according to FN50 2022, with a risk fleet of almost 177,000 cars and vans.

ALD Automotive, meanwhile, operates in 43 countries, with a similar sized global vehicle parc to LeasePlan. It was ranked fifth in FN50 2022, with a risk fleet of almost 145,000 cars and vans.

The combined risk fleet of NewALD in the UK would make it the largest leasing company, with more than 300,000 vehicles, replacing Lex Autolease at the top of the FN50.

The combined fleet of the six subsidiaries represents approximately 100,000 vehicles or 3% of the total combined fleet of ALD and LeasePlan as of December 31, 2022.