Fleet News

Hertz Lease deal nearing completion

REGULATORY approval is due this month on the proposed acquisition of Hertz Lease's multi-marque European operational car leasing and fleet management business by Societe Generale, owner of ALD Automotive.

If given the green light, the deal will extend the European coverage of ALD Automotive to the Benelux countries and Scandinavia and will strengthen its already established position in France, the UK and southern Europe.

In a statement, the French-based company said: 'Following this acquisition, the total number of vehicles managed by the Societe Generale Group under the ALD Automotive brand name will include over 277,000 vehicles under operational leasing and 115,000 vehicles under fleet management.

'With a strong presence in France, Germany, Italy, Spain and Finland, the newly-established network also covers the UK, Netherlands, Belgium, Luxembourg, Denmark, Norway, Sweden, Czech republic, Slovakia, Portugal and Morocco.'

In our FN50 league table of the UK's top leasing companies last year, Hertz Lease was ranked 15th with a fleet size of 24,000 vehicles and ALD 18th with a fleet of 21,019 vehicles. The combined fleet would have achieved 10th place with 45,019 vehicles. ALD's UK executives expect a decision on the Societe Generale's takeover of Hertz Lease before the end of February.

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