ALD and LeasePlan to merge
The year 2022 has begun with great news from ALD and LeasePlan. ALD announced that a memorandum of understanding has been signed to buy 100% of LeasePlan from a consortium led by TDR Capital. The purchase could be through a mix of cash and shares totalling €4.9b.
The merger of ALD and LeasePlan would create a group called NewALD.
ALD CEO, Tim Albertsen, declared that with the finalization of this operation, a new global player in the mobility industry will emerge.
Deal closure is expected by the end of 2022 with ALD’s parent, Société Générale, owning 53% of NewALD and LeasePlan shareholders 30.75%.
As a global leader NewALD could benefit from a fast growing market led by such strong megatrends as:
• The transition from ownership to utilization on all fronts: B2B, B2C and B2E4
• Data-driven digital transformation of the mobility industry
• The transition to a sustainable mobility and zero-emissions
According to ALD senior management, the deal would allow permit a fleet growth of 6% in the long term, and an improvement-cost to income ratio of 45% no later than 2025. Earnings per share should be around 20% in 2023.