Acquisition of Lease Plan by ALD: signing framework agreement
Following the announcement of the proposed acquisition of LeasePlan by ALD on January 6, 2022, Société Générale and ALD Automotive announce another milestone towards establishing a leading global player in mobility with the signing of the framework agreement.
The signing of the framework agreement by ALD Automotive took place on April 22, 2022, after completion of the process of information and consultation of the concerned works councils.
This framework agreement is a binding agreement, confirming the terms of the transaction as announced earlier this year. It is an important step in the acquisition process that will enable leasing companies to prepare for closing the transaction. ALD and LeasePlan have established an Integration Management Office (IMO) to ensure successful integration, which is preparing for the two entities to collaborate following the transaction's completion. The most important next steps leading up to the completion of the transaction are the registration procedures and antitrust matters.
The transaction is expected to be completed by the end of 2022, subject to customary closing conditions.