Société Générale: acquisition by ALD in Spain.

(CercleFinance.com) - ALD, Société Générale's vehicle leasing and fleet management subsidiary, has announced an agreement to acquire BBVA Autorenting, the seventh largest player in the Spanish vehicle rental market.


This transaction should reinforce ALD's positions in Spain, particularly in the area of full-service leasing, an offer intended to simplify the administrative tasks related to fleet management.

ALD has become a close partner of BBVA in recent years, managing by contract the bulk the Spanish bank's fleet of 25,000 vehicles. The transaction is set to be closed in the third quarter of 2017.


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