Industria
Ayvens publishes the Purchase Price Allocation of LeasePlan
Ayvens progressed further in the integration of LeasePlan, which is proceeding according to plan.
The allocation of LeasePlan's purchase price to acquired assets and assumed liabilities as at the date of acquisition closing (22 May 2023) led Ayvens to revise upwards the value of LeasePlan's net assets by c. EUR 230 million, as a result of the assessment of LeasePlan's assets and liabilities at fair value :
Subject to any final Purchase Price Allocation and/or acquisition price adjustment within one year from closing , the goodwill recognized on the acquisition is reduced by c. EUR 220 million to c. EUR 1,390 million. This has a positive impact on the CET1 capital of c. EUR 220 million, in line with previous indications.
Without pre-empting any potential impact from the accounting closure of its full year 2023 financial results, Ayvens expects its Q4 and full year 2023 results, whose release is planned for 8 February 2024, to be negatively impacted by:
Subject to the finalization of audit procedures by the Statutory Auditors
In accordance with IFRS 3 “Business combinations”
Customer relationship of c. EUR 280 million before cancellation of pre-existing customer relationship at LeasePlan
In accordance with IFRS 3 “Business combinations”
Estimated impact based on Ayvens' forecast of LeasePlan's Used Car Sales result in Q4 2023
Pending the finalization of the Purchase Price Allocation, no UCS result was assumed in Q2 and Q3 2023
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