The deal sees the leasing giant take over 950 vehicles in full service leasing for Chilean utility giant Compania General de Electricidad (CGE).

A subsidiary of Gas Natural Fenosa, CGE operates one of the largest corporate fleets in Chile with 2,000 vehicles including reconditioned vans and environmentally-friendly vehicles that run on CNG and GLP.

After less than one year in operation in Chile, ALD said the deal demonstrates its ability to persuade international companies and to gain its clients’ trust in its full service leasing offer.

It added that is the only lessor in the country to provide a full service leasing offer that relies entirely on the manufacturer’s official dealership networks.

The deal, which comes as ALD looks to consolidate its growth on the Latin American leasing market, is part of the global partnership between Gas Natural Fenosa and ALD Automotive in Spain, Mexico and Italy.