Societe Generale is spending nearly 5 billion euros to become a car leasing giant

The year 2022 is off to a good start for Société Générale. The French bank formalized this Thursday morning the takeover of LeasePlan , the European champion in automobile leasing. The acquisition – the most important in the history of the group – will be made via the dedicated subsidiary of the banking group, ALD , for an amount of 4.9 billion euros, paid both in securities and in cash.

“This structuring project would mark a major step in the creation of a world leader in the mobility sector”, announces Société Générale in a press release, “with a total combined fleet of approximately 3.5 million vehicles”. The bank confirmed last October the opening of discussions with the shareholders of LeasePlan, gathered around the consortium of funds led by TDR Capital, the opening of discussions with a view to the takeover.