ALD Automotive announced that it has completed the acquisition of 100% of the fleet management and mobility company LeasePlan from a consortium led by TDR Capital. Following the completion of the acquisition, ALD Automotive and LeasePlan in India will begin the process of integrating into one company, subject to regulatory approval.
A press release from ALD Automotive noted that the duo will lead the way to net zero and further shape the digital transformation of the industry. The combined entity will leverage the scale and complementary capabilities to strengthen its competitiveness and deliver sustained growth.
To lead the strategic development of the combined entity in India, Tim Albertsen, Chief Executive Officer, ALD Automotive | LeasePlan, has appointed Suvajit Karmakar, previously General Manager of ALD Automotive in India, as Country Managing Director and Asia Sub-regional Director, overseeing business activities for the Group in Malaysia and Thailand, with immediate effect.
The company noted that Karmakar is one of the key talents selected from both ALD Automotive and LeasePlan, who is best positioned to implement the combined entity’s challenging integration plan moving forward and successfully deliver the strategic development growth targeted in the coming months and years.