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SocGen unit completes acquisition of Parcours

long-termleasing subsidiary ALD Automotive completed the of long-term vehicle leasingfirm Parcours Group from WendelSA.

Wendelwill earn net proceeds of €240 million from the transaction, which valuesParcours' shareholder equity at €300 million. SocGen said the acquisitionallows ALD to accelerate growth in the long-term leasing business.