PARIS (Agefi-Dow Jones) – Société Générale bank announced Thursday that its subsidiary specializing in the long-term financing of ALD vehicles intended to acquire its Dutch competitor LeasePlan for 4.9 billion euros.
The planned acquisition would be “financed both in securities and in cash,” Societe Generale said in a press release.
“Societe Generale would undertake to remain the majority shareholder of the new group (” NewALD “) with a participation of approximately 53% of the capital at the closing of the transaction, the shareholders of LeasePlan receiving a participation of 30.75% in the context of payment in securities, “said the bank.
“Such a transaction would greatly create value for shareholders with an increase in net earnings per share of around 20% for NewALD in 2023 and greater than 5% for Societe Generale from 2024,” said the bank.
“Societe Generale’s profitability (ROTE) should increase by around 80 basis points by 2024. At the group level, the expected impact on capital at closing [à la réalisation de l’acquisition, ndlr] would be around -40 basis points, “added Societe Generale.
“The return on investment should reach more than 16% by 2024,” said the bank.
-Alice Doré, Agefi-Dow Jones; +33 (0) 1 41 27 47 90; [email protected] ed: VLV
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January 06, 2022 01:29 ET (06:29 GMT)