Santander and ALD Automotive are interested in LeasePlan, valued at 8,300 million

Santander Bank and ALD Automotive are evaluating a possible purchase of the European vehicle rental giant LeasePlan, which would be valued at 10 billion dollars (8.3 billion euros).

According to Bloomberg, ALD Automotive, listed in France and whose majority shareholder is Société Générale, is in talks for a possible merger with LeasePlan, while the Spanish bank is among the possible buyers.

However, there is no certainty that both companies have submitted a formal offer, according to the same source. Both LeasePlan, Santander and Societe Generale they have declined to comment on the possible operation.

TDR Capital, which bought LeasePlan from Volkswagen for 3.7 billion euros together with other investors such as Abu Dhabi Investment Authority and the commercial arm of Goldman Sachs are exploring different options for the vehicle rental company, including an exclusion from the used vehicle sales platform of the company

LeasePlan offers vehicle rental to individuals and supervises and manages fleets in 32 countries, with a total of 1.9 million cars. In the last year, it entered 9,850 million euros, competing with firms such as ALD Automotive y Arval (BNP Paribas).

A merger between LeasePlan and ALD, which manages more than 1.5 million vehicles in 43 countries, could create a European powerhouse in the vehicle rental sector.


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