ALD closure of LeasePlan acquisition moved to May

ALD Automotive has announced that its Extraordinary General Meeting, together with the acquisition closure of LeasePlan by ALD, has been moved to May 2023.

After being initially planned for 28th April, the Extraordinary General Meeting has been rescheduled to 22nd May.

ALD Automotive has noted that the meeting will be delayed as it is awaiting the agreement from the European Commission of Credit Agricole Consumer Finance as the buyer for ALD’s entities in Ireland, Portugal and Norway, as well as LeasePlan’s subsidiaries in Luxembourg, Finland and the Czech Republic.

To receive the European Commission’s clearance for the acquisition of LeasePlan, ALD was required to sell its subsidiaries in Ireland, Portugal and Norway, as well as LeasePlan’s subsidiaries in Luxembourg, Finland and the Czech Republic, to Credit Agricole Consumer Finance and Stellantis.

In January 2022, ALD agreed to buy LeasePlan for €4.9 billion, with the new company to be called NewALD.