Stellantis: strengthens leasing business in Europe
(CercleFinance.com) - Stellantis announced on Wednesday that its joint venture with Crédit Agricole has agreed to acquire ALD's activities in Portugal, along with LeasePlan's in Luxembourg.
This news follows the partnership sealed between Stellantis and Crédit Agricole at the end of 2021 concerning the creation of a new joint entity (Newco), whose ambition is to become a European leader in operational leasing.
The transaction should enable the joint venture, which will result from the consolidation of Leasys and Free2move Lease and will be equally owned, to strengthen its leading position in leasing in Europe.
The sale of ALD's operations in Ireland, Norway and Portugal and LeasePlan's operations in the Czech Republic, Finland and Luxembourg is part of the commitments made by ALD to the European Commission to complete the acquisition of LeasePlan.
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