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)
