ALD Automotive : Capital increase launched for € 1.2bn (vs € 1.3bn initially)
>Parameters slightly adjusted, but the story remains the same - ALD is launching this morning its capital increase to finance a share of the LeasePlan deal. We note that compared to the amounts initially planned at the announcement, the valuations have been slightly lowered.For ALD, the benchmark price for the capital increase is € 11.0 (vs € 12.12 upon the announcement), while the theoretical valuation of LeasePlan, including warrants, has changed from € 5....ALD is a service leasing and vehicle fleet management group with a fleet of more than 1,375,000 vehicles in 41 countries. Under a full-service lease, the client pays the leasing company a regular monthly lease payment to cover financing, depreciation of the vehicle and the cost of various services provided in relation to the use of the vehicle (such as maintenance, replacement car, tyre management, fuel cards and insurance). Fleet management services include the provision of outsourcing contracts to clients under which the vehicle is not owned by Co., but is managed by Co. and for which the client pays fees for the various fleet management services provided.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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