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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.

Car dashboard with ALD Automotive logo

Parent firm Societe Generale is planning to dispose of a limited stake in ALD Automotive

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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For more of the latest industry news, click here.

Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.