Drivalia has officially completed the acquisition of ALD Automotive in Ireland, following approval from the European Commission.

Drivalia’s new subsidiary in Ireland will expand into offering its ‘Planet Mobility’ solutions

It’s part of a larger deal in which leasing and mobility specialist Drivalia, owned by France’s Crédit Agricole, has also acquired the subsidiaries of ALD Automotive in Norway and of LeasePlan in Czech Republic and Finland, spanning a total of 70,000 vehicles and some 430 employees. ALD and LeasePlan had been required to divest the subsidiaries to gain European Commission approval for their merger earlier this year.

The expansion into four new European countries means Drivalia now operates in 13 markets, providing rental, leasing and mobility solutions.

In Ireland, the subsidiary will continue to focus on contract hire and fleet management. But it will also expand into offering Drivalia’s ‘Planet Mobility’ solutions such as electric car sharing, car subscriptions and rentals of all durations, under the company’s plans to become a leader in green mobility.

After the rebranding process is completed, the subsidiary will become part of the world of Crédit Agricole group, the 10th largest bank in the world serving over 53 million customers across 46 countries.

Giacomo Carelli, CEO of CA Auto Bank and chairman of Drivalia, said: “We are delighted and proud to welcome the Irish team to our big family. This acquisition marks a turning point for Drivalia’s project in Europe. With the launch of new subsidiaries in Ireland, we are moving ever closer to our goal of becoming a top pan-European player in the mobility of tomorrow.”

David Wilkinson, CEO of the Irish subsidiary of Drivalia, said: “We are really excited about joining Drivalia and becoming part of a bank with the scale of the Crédit Agricole Group, one of the ten largest banks in the world. Drivalia’s financial strength, strong values and innovative mobility products strengthens our ability to grow and support all our customer’s fleet and mobility requirements now and into the future.”

The deal comes after Crédit Agricole Consumer Finance announced the 100% takeover of FCA Bank and Drivalia earlier this year, supporting its plans to create a pan-European leader in multi-brand automobile financing. CA Consumer Finance also simultaneously finalised the creation of Leasys in a 50:50 joint venture with Stellantis, providing a European leader in automotive long-term rental.