Published: 15-02-2019 17:53
Stern Groep N.V., the listed Dutch market leader in automotive retail, is pleased to report that it has begun exclusive negotiations with ALD Automotive Nederland regarding the sale of shares in SternLease BV.
The parties are also in talks regarding a long-term strategic partnership agreement for the signing of new lease contracts and the delivery by Stern of contract goods and mobility services.
Fast Forward Reloaded
On Capital Markets Day, held on 20 December 2018, the Management Board presented the Fast Forward Reloaded strategic plan for 2019 – 2021. A key component of this plan is entering into a strategic alliance with a lease partner to whom the lease portfolio will be sold. Stern sees great opportunities in a close partnership with a strategic partner in leasing that has an interest in a dealer group with an extensive branch network, a large number of leading brands and direct contact with a sizeable group of customers.
In addition to the possible acquisition of SternLease, the parties are also negotiating a long-term partnership agreement. Their negotiations are focused on a reciprocal relationship whereby Dealergroep Stern will sign new lease contracts through its own dealer network and deliver these to ALD Automotive, while Stern, as ALD Automotive’s preferred partner, will be able to count on the supply of cars and the maintenance, repair and car body repair of cars and their use as replacement vehicles.
Stern is assisted in this process by ING Corporate Finance and law firm Van Doorne, which are providing financial and legal advice, respectively.