PARIS (Agefi-Dow Jones)–The UK competition authority, the Competition & Markets Authority (CMA), announced on Monday that it was examining the takeover of Dutch long-term vehicle finance group LeasePlan by ALD, a subsidiary of Societe Generale bank, in order to determine whether the transaction would significantly reduce competition in the United Kingdom.
The CMA invites interested parties to submit their views on the impact the proposed transaction may have on competition in the UK by September 19. This invitation to comment is the first part of the CMA’s information-gathering process, before the start of its formal investigation.
Last April, Societe Generale announced that its subsidiary ALD had signed the memorandum of understanding relating to the acquisition of 100% of the capital of its competitor LeasePlan. The bank had indicated in January that ALD intended to acquire LeasePlan for an amount of 4.9 billion euros, from a consortium led by the private equity firm TDR.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: VLV
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September 05, 2022 02:46 ET (06:46 GMT)