Crédit Agricole Consumer Finance and Stellantis complete the acquisition of ALD and LeasePlan’s activities in six European countries and accelerate the development of Crédit Agricole Auto Bank and Leasys
· Crédit Agricole Consumer Finance finalises the acquisition with Stellantis of ALD’s activities in Ireland, Norway and Portugal, as well as LeasePlan’s activities in the Czech Republic, Finland and Luxembourg· It enables an immediate acceleration of Crédit Agricole Consumer Finance and Stellantis’ development ambitions in mobility and long-term car rental.
Crédit Agricole Consumer Finance announces, with its partner Stellantis, the acquisition of ALD’s activities in Ireland, Norway and Portugal, as well as LeasePlan’s activities in the Czech Republic, Finland and Luxembourg, representing a total fleet of more than 100,000 vehicles and a total outstanding amount of approximately €1.7 billion. These acquisitions follow the commitments made by ALD in the context of the European Commission’s authorisation of the merger between ALD and LeasePlan.
The acquisition is being carried out by Drivalia, a subsidiary of Crédit Agricole Auto Bank, and Leasys. It gives rise to a division of the acquired perimeter between:· On the one hand, · Auto Bank and Drivalia, which host ALD’s activities in Ireland and Norway and LeasePlan’s activities in the Czech Republic and Finland for a total of more than 70,000 vehicles;· And on the other hand, Leasys, the 50-50 joint venture of Stellantis and Crédit Agricole Consumer Finance, which hosts the activities of ALD in Portugal and LeasePlan in Luxembourg for a total of about 30,000 vehicles.
This transaction consolidates the partnership between Crédit Agricole Consumer Finance and Stellantis and accelerates the development of the two companies in Europe, in line with the ambitions of the two companies to be among the European leaders in automotive financing.
Consumer Finance aims to make the group formed by Auto Bank and Drivalia a pan-European leader in car finance, leasing and mobility.
In addition, Leasys aims to increase its fleet to one million vehicles and to join the top 3 European long-term rental companies by 2026.
All required authorisations from competition authorities and competent regulators have been obtained. This transaction will have a positive impact on Crédit Agricole Consumer Finance’s results and will generate a return on investment in line with Group policy. The impact on Crédit Agricole S.A.’s CET1 ratio will be less than 10 basis points.
The acquisition of these six entities, together with Stellantis, is an opportunity to accelerate our development and support the ambitions of Leasys and This operation allows us to expand our European geographical footprint and demonstrates our desire to support the fundamental movement in terms of the use and evolution of consumption patterns in mobility.
About Crédit Agricole Consumer FinanceCrédit Agricole Consumer Finance, a subsidiary of the Crédit Agricole Group, specialises in retail finance and provides access to all mobility solutions in Europe. It distributes a wide range of financing solutions – depreciable credit, revolving credit, leasing and credit buyback – directly at its partners’ point of sale or e-commerce platforms, with associated services including insurance, split payment solutions and mobility services, with the aim of meeting the challenges of energy transition in mobility, housing and consumption. Its financing solutions and services are offered in France via Sofinco, in Italy via Agos, in Germany via Creditplus, in Portugal via Credibom, in Spain via Sofinco Espana, in Morocco via Wafasalaf, and in China via GAC-Sofinco (car financing only). Crédit Agricole Consumer Finance aims to be the leader in green mobility in Europe and offers a continuum of all mobility solutions in the 19 countries where it operates (leasing, medium and short-term leasing, subscription, car sharing, charging station installation, etc.). It relies on the JV with Stellantis, the 100% integration of {tilde over (X)} Auto Bank and Drivalia and the development of automotive financing in its historic markets in Europe and in the Crédit Agricole Regional Banks and at LCL via Agilauto. Consumer Finance acts every day in the interest of its 16.7 million customers and the company. At December 31, 2022, Consumer Finance managed €103.1 billion in outstanding loans.For more information: www.ca-consumerfinance.com
Press contact de Crédit Agricole Consumer Finance : Claire Garcia – +33 (0)1 87 38 11 81 – presse@ca-cf.fr