ALD acquisition of LeasePlan due to be completed in Q1 2023

ALD Automotive’s planned acquisition of LeasePlan has taken a significant move forward following the successful rights issue of more than 160 million new shares, which raised EUR1.2 billion.

The acquisition of LeasePlan by ALD Automotive is now expected to take place in Q1 2023, after ALD obtained all expected merger control clearances conditioning the completion of the acquisition. The last clearance was obtained from the European Commission on November 25, 2022.

Tim Albertsen, CEO of ALD, said: “I am delighted with the success of our rights issue, which was largely oversubscribed. I would like to thank our existing shareholders for their continued support and welcome new investors in our capital.

“ALD has completed a key step towards the creation of the leading global sustainable mobility player. Both ALD and LeasePlan teams are looking forward to joining forces and generating value for our customers and our shareholders.”

ALD signed a memorandum of understanding to acquire 100% of LeasePlan from a consortium led by TDR Capital on 6th January 2022, for a total consideration of EUR4.9 billion through a combination of cash and shares.