THE creation of the UK’s largest leasing company has been green-lighted by both the Competition and Markets Authority in the UK and the European Commission.
The acquisition by ALD Automotive of LeasePlan will make the new leaseco number one in the FN50 by some distance with a fleet of 321,466, vastly ahead of current number one Lex Autolease with a fleet size of 274,107.
However, the merger is conditional on ALD Automotive divesting its interests in Ireland, Norway and Portugal, while LeasePlan has had to do the same in The Czech Republic, Finland and Luxembourg.
ALD Automotive and LeasePlan also have significant leasing broker operations here in the UK, but there’s no word yet on whether the merger will lead to a streamlined broker channel support operation or not.
ALD Automotive said it expected the transaction to be completed by the end of 2022.
Express Vehicle Contracts named Best Independent Vehicle Leasing Company 2024 in SME UK Transport Awards
Express Vehicle Contracts named Best Independent Vehicle Leasing Company in the
SME UK Transport Awards 2024.
Optimism over Discretionary Commission Arrangements says Jonathan Kirk KC
There are three key reasons for optimism over the issue of discretionary commission arrangements (DCAs), delegates to a VRA meeting were told
Stellantis adds Chinese low-cost Leapmotor to UK brands
Stellantis will add low cost Chinese electric car maker Leapmotor to its UK brand line up in March 2025 as part of its joint venture
Fifty2One broker website business up for sale
Clitheroe based software specialist Fifty2One is offering up its leasing broker website concern for sale. Are you interested in the business?
BMW shows scorching growth in company car market
BMW is racing ahead as the company car market dominates the automotive sector according to latest SMMT stats
The Leasing.com PCH temperature check: April 2024
Leasing.com and Broker News bring you regular insight on what is moving and shaking in the PCH market. This month: April 2024
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.