ALD and Mitsubishi UFJ Lease & Finance Company to launch joint venture operations in Malaysia

ALD 
ALD and Mitsubishi UFJ Lease & Finance Company to launch joint venture 
operations in Malaysia 
 
23-March-2020 / 08:14 CET/CEST 
Dissemination of a French Regulatory News, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
Press release 
Paris, 23 March 2020 
ALD and Mitsubishi UFJ Lease & Finance Company to launch joint 
venture operations in Malaysia 
 
  ALD and Mitsubishi UFJ Lease & Finance Company Limited ('MUL') have signed 
an agreement to create a joint venture that will establish multi-brand, full 
      service operational leasing and fleet management business with related 
            mobility products for corporate clients in Malaysia. 
 
        Following a Memorandum of Understanding between ALD and MUL, the two 
      companies entered into a joint venture agreement on 13th March 2020 to 
  establish their first joint venture company in Malaysia. The joint venture 
    will be responsible for developing the business through a combination of 
       both respective client bases, industry expertise, local knowledge and 
         financial strength which are expected to provide a key advantage to 
            successfully develop and serve international and local clients. 
 
    The joint venture is part of a joint South East Asian strategy and it is 
expected that both groups will follow this initial launch with further joint 
   ventures over the coming years to cover the main countries in the region. 
 
  "With car markets in South East Asia growing fast and strong global client 
   demand expected in this region, we believe that as an early starter among 
our European peers, we will be able to develop successfully, as we have done 
  in other emerging markets," confirms Tim Albertsen, Deputy Chief Executive 
      Officer of ALD. "With MUL's established presence in the region and our 
 industry leading expertise, our strategic partnership will help us to fully 
            develop in all the key markets of South East Asia." 
 
"We are very excited to have entered into a joint venture in Malaysia with 
ALD, a leading industry player. Through this strategic partnership, by 
combining both parties' expertise and experience, we believe that we can 
provide our clients with high-quality leasing services. We hope to expand 
this partnership in the Southeast Asian region together to build a platform 
which enables us to provide a variety of mobility services to meet the 
diversified needs of our customers who are currently facing a 
once-in-a-generation revolution in the mobility industry." said Kenji 
Yasuno, Senior Managing Executive Officer of MUL. 
 
  ALD is currently present in Asia through its subsidiary in India, where it 
   has been providing full service leasing and fleet management services for 
     over a decade. At end December 2019, ALD's total fleet amounted to 1.76 
  million vehicles managed worldwide with an unparalleled direct presence in 
  43 countries. The joint venture subsidiary in Malaysia between ALD and MUL 
    is expected be incorporated in Q2, 2020 subject to any merger clearances 
            required. 
 
About 
 
ALD 
 
ALD is a global leader in mobility solutions providing full service leasing 
and fleet management services cross 43 countries to a client base of large 
corporates, SMEs, professionals and private individuals. A leader in its 
industry, ALD places sustainable mobility at the heart of its strategy, 
delivering innovative mobility solutions and technology-enabled services to 
its clients, helping them focus on their everyday business. 
 
With 6,700 employees around the globe, ALD manages 1.76 million vehicles (at 
end-December 2019). 
 
ALD is listed on Compartment A of Euronext Paris (ISIN: FR0013258662; 
Ticker: ALD) and is included in the SBF120 index. Société Générale is ALD 
Automotive's majority shareholder. 
 
Mitsubishi UFJ Lease & Finance Company Limited (MUL) 
 
MUL is a global leasing company based in Tokyo, Japan, and publicly listed 
on the Tokyo and Nagoya Stock Exchanges. MUL is a major vehicle operating 
lease player in Japan through Mitsubishi Auto Leasing which is jointly owned 
by MUL and Mitsubishi Corporation." 
 
Regulatory filing PDF file 
 
Document title: ALD MUL announcement 
Document: https://eqs-cockpit.com/c/fncls.ssp?u=QIMAWDMHXM [1] 
 
Language:       English 
Company:        ALD 
                1 Rue Eugène et Armand Peugeot 
                92500 Rueil-Malmaison 
                France 
Internet:       https://www.aldautomotive.com/ 
ISIN:           FR0013258662 
Euronext        ALD 
Ticker: 
AMF Category:   Inside information / Issuer activities (acquisitions, 
                sales...) 
EQS News ID:    1003843 
 
End of Announcement EQS News Service 
 
1003843 23-March-2020 CET/CEST 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=2e353994c7915f1914ebc85cdcca72e5&application_id=1003843&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

March 23, 2020 03:14 ET (07:14 GMT)