Leasys, the new pan-European operational leasing company created by French Crédit Agricole’s daughter CA Consumer Finance and car manufacturer Stellantis has finalized the takeover of the operations of ALD Automotive and LeasePlan in Luxembourg and Portugal. This way, an additional 30 000 vehicles are added to their jointly managed fleet, now totaling 828 000.

The operation results from the EU Commission’s requirement for the ALD-LeasePlan merger to sell their leasing and fleet management businesses in Portugal,  Ireland, Norway, and LeasePlan in the Czech Republic, Finland, and Luxembourg.

Buying six subsidiaries

Leasys is to buy the six subsidiaries in Europe. The combined fleet of these six entities represented about 100 000 vehicles or 3% of the total combined fleet of ALD and LeasePlan at the end of 2022.

According to the press release, the ambition is to “target 1 million vehicles by 2026 and accelerate the development of the Company in strategic European countries, in line with the ambitions of being ranked among the European leaders in automotive financing.”

Going back 15 years

The relationship between the Crédit Agricole daughter CA Consumer Finance and former Fiat-Chrisler Automobiles, which later became Stellantis, goes back for over 15 years. They jointly developed a significant player in automotive financing: FCA Bank.

This bank’s leasing daughter Leasys was the market leader in Italy with 314 000 managed vehicles as of year-end 2020 and was merged with Free2Move Lease (369 000 operated vehicles), which historically covered the PSA brands (Peugeot, Citroën, DS, Opel) before PSA and FCA formed the new Stellantis Group.

Today Leasys is already operational in 11 European countries: Austria, Belgium, France, Germany, Italy, Luxembourg, Poland, Portugal, Spain, The Netherlands, and The UK.

“This acquisition is yet another signal that confirms our willingness to seize any strategic market opportunity. Our way forward is clear, and the new Leasys is set to become a key player in the European mobility area, capable of offering innovative, affordable, and sustainable mobility,” said Rolando D’Arco, Leasys CEO