LeasePlan Luxembourg is located in the Grasbuch industrial zone in Leudelange. Photo: Olivier Dessy (archives)

LeasePlan Luxembourg is located in the Grasbuch industrial zone in Leudelange. Photo: Olivier Dessy (archives)

As part of the acquisition of the Dutch group LeasePlan by the French company ALD, LeasePlan’s Luxembourg unit will have to be sold in the coming weeks.

As a result of the , a subsidiary of Société Générale and Europe’s leading car leasing company, LeasePlan Luxembourg will be sold in the coming weeks, at the latest in the first half of 2023.

On Friday 25 November, the European Commission gave its green light for the takeover, estimated at €4.9bn. However, the commission expressed competition concerns in six countries, namely Finland, Ireland, Portugal, the Czech Republic, Norway and Luxembourg. Anticipating the problem, .

But in practice, ALD will not be the only one to divest activities. The French group and the Dutch group have decided to balance the scales. “Indeed, both groups will work on their own before the linkup. LeasePlan will sell its activities in Luxembourg, Finland and the Czech Republic. ALD will sell its activities in Norway, Ireland and Portugal. Once these transactions have been completed, the takeover can proceed,” explained , director of ALD Luxembourg.

ALD represents 33% of the Luxembourg market

This takeover will reshuffle the cards in the car leasing sector in Luxembourg, as ALD has a 33% share of the car leasing market in the grand duchy and is expected to close the year with a fleet of 18,000 vehicles. LeasePlan’s market share is estimated to be around 17%.

For the time being, there is little information about a possible interest from other car leasing players present in Luxembourg. However, the matter should accelerate in the coming weeks as the ALD group plans to finalise the LeasePlan takeover in the first quarter of 2023.

Read the original French version of this article on the site