ALD is selling of 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.

The sale of the subsidiaries is part of a committment made by ALD to receive clearance by the European Commission for the acquisition of LeasePlan.

ALD agreed to buy LeasePlan for €4.9 billion (£4.1bn), with the new leasing powerhouse to be called NewALD, in January 2022. 

LeasePlan is one of the world's largest leasing companies, with approximately 1.9 million vehicles in more than 30 countries.

In the UK, LeasePlan was ranked as the fourth largest leasing company, according to FN50 2022, with a risk fleet of almost 177,000 cars and vans.

ALD Automotive, meanwhile, operates in 43 countries, with a similar sized global vehicle parc to LeasePlan. It was ranked fifth in FN50 2022, with a risk fleet of almost 145,000 cars and vans.

The combined risk fleet of NewALD in the UK would make it the largest leasing company, with more than 300,000 vehicles, replacing Lex Autolease at the top of the FN50.

The combined fleet of the six subsidiaries represents approximately 100,000 vehicles or 3% of the total combined fleet of ALD and LeasePlan as of December 31, 2022.

ALD’s board of directors has also decided to convene an extraordinary general meeting on April 28, to approve the acquisition of LeasePlan by ALD. The closing of the acquisition would take place on the same day.