FRENCH banking giant Societe Generale has announced that it its leasing arm ALD Automotive to be floated on the stock market.
The bank plans to retain a majority share, but saw the flotation as an opportunity for the leasing firm to expand more quickly.
Société Générale issued the following statement about ALD Automotive:
“The stock market floatation will open up new opportunities for it to accelerate its expansion through new sales channels and partnerships, providing it with the capacity to seize growth opportunities.”
Société Générale said ALD manages nearly 1.4 million vehicles over 41 countries and saw the flotation as an opportunity for the company to become a leader in mobility.