Société Générale to float ALD Automotive on stock market
French financial services group Société Générale has announced plans to float its ALD Automotive vehicle leasing subsidiary on the stock market this year.
Announced in the group’s latest quarterly financial information, the plans would see Société Générale dispose of a limited stake of the wholly owned subsidiary to “enable ALD to accelerate its growth and become a leader in the mobility sector”.
Société Générale added: “With ALD now benefiting from critical mass and proven growth capacity, its stock market floatation will open up new opportunities for it to accelerate its expansion through new sales channels and partnerships, providing it with the capacity to seize growth opportunities.”
The group added that it would retain control of ALD and continue to actively support its subsidiary’s growth strategy in the development of commercial relations.
ALD has a leading global role in operational vehicle leasing and manages nearly 1.4 million vehicles with a geographical coverage spanning 41 countries.
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