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ALD Proposed Acquisition of LeasePlan
ALD Announces the signing of a memorandum of understanding to acquire 100% of LeasePlan from a consortium led by TDR Capital.
- ALD ANNOUNCES THE SIGNING OF A MEMORANDUM OF UNDERSTANDING TO ACQUIRE 100% OF LEASEPLAN FROM A CONSORTIUM LED BY TDR CAPITAL
- THE PROPOSED ACQUISITION OF LEASEPLAN FOR A TOTAL CONSIDERATION OF EUR 4.9 BILLION1 WOULD BE MADE THROUGH A COMBINATION OF CASH AND SHARES
- AT CLOSING, EXPECTED BY END 2022, SOCIETE GENERALE WOULD OWN C. 53% OF “NewALD”, LEASEPLAN SHAREHOLDERS HOLDING 30.75%2
- SOCIETE GENERALE WOULD COMMIT TO REMAIN THE LONG-TERM MAJORITY SHAREHOLDER OF NewALD
- NewALD WOULD CREATE A LEADING GLOBAL MOBILITY PLAYER, STRONGLY POSITIONED TO LEAD THE DIGITAL TRANSFORMATION OF THE INDUSTRY AND CAPTURE MOBILITY SECTOR GROWTH
- NewALD WOULD GENERATE SIGNIFICANT VALUE FOR SHAREHOLDERS, THANKS TO SCALE EFFECTS AND SYNERGIES
LeasePlan is one of the leading fleet management and mobility companies in the world by fleet size, with a global and extensive offering making it the perfect fit for ALD to shape the industry’s transformation.
The proposed combination of ALD and LeasePlan into NewALD is expected to be highly synergetic and create an opportunity to cross-leverage the two companies’ complementary capabilities. As a leading global player in mobility worldwide, NewALD would be able to benefit from a fast-growing market driven by strong underlying megatrends, including the:
- Shift from ownership to usership on all fronts: B2B, B2C and even B2E3
- Data-driven digital transformation of the mobility industry
- Transition towards zero-emission and sustainable mobility
This transformative deal would be a step-change. NewALD would target an improvement in cost to income ratio, confirming its position as best-in-class in the industry.
1 Based on EUR 12.12 per share for ALD (VWAP on Euronext between 28 Sept 21 and 27 Oct 21, date of publication of press release after market close confirming discussions concerning a potential combination) and excluding warrants 2 With 12-month lock-up. Potentially to increase by a further c.2% following the exercise of warrants, on a fully diluted basis. 3 B2E is Business to Employee
