Frank Media: Societe Generale will sell the last asset in Russia

The Russian representative office of the leasing company ALD Automotive is the last asset of the French group Societe Generale in Russia, the sale of which is currently being negotiated. According to the publication Frank MediaRussian and Belarusian divisions of ALD could be sold to Expocap, a structure of Expobank owner Igor Kim, created to buy subsidiaries of foreign companies leaving Russia.

“Negotiations (Igor Kim.— ”b”) regarding the purchase of the last structure of Societe Generale remaining in Russia, they are progressing well, but there is no final decision on the deal yet. However, the competition for the asset is not very big,” one of the sources told Frank Media. Societe Generale declined to comment on a possible deal, and Expobank did not respond to a media request.

Previously, Expocap acquired CNH Industrial Financial Services Russia and CNH Industrial Capital Russia from CNH Industrial in the Netherlands.

As of the beginning of 2022, ALD Automotive operated a fleet of 20.3 thousand vehicles in Russia and Belarus (20.1 thousand contracts were in Russia). In April Societe Generale became the first European financial group to announce its withdrawal from Russia.

Andrey Sapozhnikov