23 Apr 21

Report: ALD and Santander interested in acquiring LeasePlan

Bloomberg.com reports that both ALD and Banco Santander have expressed interest – separately – in acquiring LeasePlan. According to the financial news website, France-based ALD, a Société Générale subsidiary, has been holding talks about a potential merger with its competitor.

According to Bloomberg.com, the Spanish banking group Santander would also be interested in acquiring LeasePlan, the international vehicle leasing specialist with headquarters in the Netherlands.

With revenue close to €10 billion in 2020 and a fleet of about 1.8 million vehicles in 32 countries, LeasePlan is one of Europe’s largest vehicle leasing companies – on a par with ALD Automotive and Arval. 

In 2015, it was acquired for €3.7 billion by a consortium composed of various large pension funds and investment authorities. In 2018, LeasePlan’s abortive IPO targeted a valuation of around €7.5 billion. A deal right now could carry a price tag of around €8.3 billion for the leasing company, Bloomberg.com estimates.

Not only would that make the acquisition of LeasePlan one of the biggest private equity divestments this year in Europe, it could also – if the result were a merger with ALD Automotive – create the largest European vehicle leasing specialist by far. 

However, sources say neither ALD’s nor Santander’s interest has yet proceeded to the stage of a formal offer. None of the parties involved has offered any comment, either to us or to other media outlets. 

Watch Fleet Europe and this space for more on this topic, if and when the story develops. 

Image: LeasePlan Corporation.

Authored by: Frank Jacobs