Success of ALD c.€1.2bn rights issue

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Success of ALD c.€1.2 billion capital increase with shareholders’ preferential subscription rights in connection with the contemplated acquisition of LeasePlan

 ALD, the listed subsidiary of Societe Generale, has successfully completed its capital increase with shareholders’ preferential subscription rights (the “Rights Issue”) for an amount of approximately €1.2 billion. The total demand amounted to approximately €1.5 billion, corresponding to an oversubscription rate of approximately 175% excluding the subscription amount of Societe Generale[1].

The success of this Rights Issue is a key milestone for the acquisition of LeasePlan (the “Acquisition”) by ALD, whose finalization is expected by the end of the first quarter 2023. This significant achievement is another step towards creating the leading global sustainable mobility player, benefiting from highly compelling complementarity capabilities and synergies.

In accordance with its commitment to remain the long-term majority shareholder of ALD, Societe Generale subscribed for an amount of approximately €803 million in the Rights Issue, representing approximately 66.3% of the Rights Issue, and will hold approximately 75.9% of the ALD’s share capital following the settlement-delivery of the Rights Issue. Upon closing of the Acquisition, Societe Generale will ultimately own 52.6% of the new group’s share capital[2]. Following the completion of the Rights Issue, ALD’s free float increases from 19.9% to 23.9%.

For more information on the Rights Issue, please consult the Rights Issue dedicated section on ALD’s institutional website:
(https://www.aldautomotive.com/investors/acquisition-of-leaseplan/rights-issue).

Press contact: 
Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com 
Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com