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10 May 20213 minute read

DLA Piper advises Société Générale on acquisition of Bandasabadell Renting and signing of a strategic partnership to boost full service leasing in Spain

DLA Piper has advised ALD, the operational leasing and fleet management business line of Société Générale Group, on its acquisition of Bansabadell Renting, the renting arm of Banco Sabadell in Spain, totaling c. 20,000 vehicles.

The acquisition also includes the entry into a white label distribution agreement whereby Banco Sabadell will make available to its SME and Private Lease customers in Spain a full service leasing solution managed by ALD.This acquisition forms part of ALD's development strategy and is an example of ADL’s focus on value accretive bolt-on acquisitions.This transaction is expected to strengthen ALD's offering in Spain, positioning the company as the 2nd largest player in the market, while expanding the commercial reach of its solutions. ALD in Spain currently manages a fleet of c. 120,000 contracts with large corporates, SMEs and private individuals.

The completion of this transaction will be subject to the agreement of the Spanish Competition Authority.

The DLA Piper Paris-based team was led by partner Corporate partner Sonia de Kondserovsky, assisted by senior associate Natalia Li and associate Fadoua Nounnouhi. The firm’s Madrid-based team was led by Corporate partner Teresa Zueco and Intellectual Property & Technology partner Paula González de Castejón, senior associate Francisco Bachiller and associate Juan Rosell.