French bank SocGen says ALD unit completes 1.2 bln euro capital increase

December 16, 2022 08:36 AM CET | By Reuters

PARIS, Dec 16 (Reuters) - French bank Societe Generale said on Friday that its car leasing unit ALD had successfully completed a 1.2-billion euro ($1.3 billion) capital increase launched to finance its purchase of Dutch rival LeasePlan.

It said that Societe Generale had subscribed for approximately 803 million euros in the rights issue.

The bank added that, upon closing of the acquisition, it would ultimately own 52.6% of the new group's share capital.

($1 = 0.9387 euros) (Reporting by Silvia Aloisi; Editing by Sudip Kar-Gupta)