Leasys has completed its acquisition of ALD Automotive and LeasePlan’s activities in Portugal and Luxembourg, respectively.

The transaction grows Leasys active fleet by around 30,000 vehicles, supporting its target of one million vehicles by 2026

The acquisition follows a binding agreement for the takeover of ALD and LeasePlan’s activities in these countries. The two leasing firms had been required to sell off these subsidiaries, amongst others, to secure European Commission approval for ALD’s acquisition of LeasePlan, which closed earlier this year.

Leasys’ transaction adds around 30,000 vehicles to its active fleet and supports plans to become a European leader in automotive financing.

Formed earlier this year, Leasys is a 50:50 joint venture between Stellantis and Crédit Agricole Consumer Finance and consolidates the activities of Leasys and Free2move Lease. The deal created the sector’s fifth ranked European player, which already operated in 11 European countries and with a targeted one million vehicles by 2026.

Rolando D’Arco, Leasys CEO, said: “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 to offer innovative, affordable and sustainable mobility.”