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LeasePlan Luxembourg to be acquired by Crédit Agricole Consumer Finance and Stellantis
1 min to readLeasing
In the context of the acquisition of LeasePlan by ALD, and under the commitments made by ALD for the clearance of the acquisition by the European Commission, Crédit Agricole Consumer Finance (CACF) and Stellantis announce that have signed a binding agreement for the acquisition of ALD and LeasePlan’s activities in six European countries, including LeasePlan Luxembourg.
CACF and Stellantis were selected based on their financial capacity, skills, motivation, experience and ambition in the leasing industry, in order to maintain and develop the competitiveness and services quality for the customers of each entity.
This transaction would consolidate the partnership between CACF 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. LeasePlan Luxembourg would be part of the "NewCo", a joint venture owned equally by Stellantis and Credit Agricole Consumer Finance. Through this joint venture, the activities of Leasys and Free2move are now also consolidated, and have more than 828.000 vehicles.
The closing of the sale, which is expected to take place in 2023, is subject to regulatory and antitrust approvals and the completion of the acquisition of LeasePlan.
In the context of the acquisition of LeasePlan by ALD, and under the commitments made by ALD for the clearance of the acquisition by the European Commission, Crédit Agricole Consumer Finance (CACF) and Stellantis announce that have signed a binding agreement for the acquisition of ALD and LeasePlan’s activities in six European countries, including LeasePlan Luxembourg.
CACF and Stellantis were selected based on their financial capacity, skills, motivation, experience and ambition in the leasing industry, in order to maintain and develop the competitiveness and services quality for the customers of each entity.
This transaction would consolidate the partnership between CACF 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. LeasePlan Luxembourg would be part of the "NewCo", a joint venture owned equally by Stellantis and Credit Agricole Consumer Finance. Through this joint venture, the activities of Leasys and Free2move are now also consolidated, and have more than 828.000 vehicles.
The closing of the sale, which is expected to take place in 2023, is subject to regulatory and antitrust approvals and the completion of the acquisition of LeasePlan.
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March 22, 2023
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