May 29 (Reuters) - SocGen/ALD/BBVA:
* SocGen’s ALD has signed an agreement to acquire BBVA Autorenting, the Spanish full-service leasing subsidiary of BBVA
* In 2016, BBVA Autorenting generated a Net Income of EUR 12.3m.
* BBVA Autorenting is the 7th largest player on the Spanish market with a fleet of c. 25,000 vehicles, most of which were previously managed by ALD Spain under a Fleet Management (FM) contract
* Acquisition forms part of ALD’s development strategy and is an example of ALD’s focus on targeted and value accretive bolt-on acquisitions