DC Advisory advised BBVA on the sale of its car leasing subsidiary to ALD Automotive

DC Advisory has advised BBVA on the disposal of its Spanish operating car lease subsidiary. The transaction includes a long-term distribution agreement between the two companies to jointly work in the development of this business.

With 25,000 vehicles fleet and €130m sales, BBVA Autorenting is positioned as the 7th company in the Spanish car leasing market.

ALD is the operating car lease subsidiary of Société Générale with over 1,375,000 vehicles fleet and presence in more than 40 countries.

• The French company boasts a wide range of vehicles being specialist in the most state-of-the-art products such as flexible renting or car-sharing, and services such as client’s direct access to vehicle state information.
• The operation with an specialist partner allows BBVA to improve the value proposition offered to its clients in terms of mobility solutions.
• BBVA will continue distributing car leasing products across its over 3,500 branches network.

On the other hand, the acquisition is part of ALD development strategy to carry out selected acquisitions previously to the IPO due in 2017 third quarter.

• The transaction provides ALD with access to a high granularity distribution network allowing to reach the client segments with higher growth potentiality: SMEs, self-employed people and private users.

Due to DC Advisory’s expertise in strategic alliances between banks and industrial specialist partners (bancassurance, asset management, debt servicing, consumer finance, etc.), BBVA selected DC Advisory as sole financial advisor of this first long term outsourcing process with a specialist partner.