Stellantis to strengthen the Ppotential of Its
European Business Fundinges
- The company intends to create a leading operational leasing group and reinforced captive financial branch
- Strategic and Iinnovative partnerships with leading European banks will streamline customer journey
- New structure will support the future of mobility services
AMSTERDAM, December 17, 2021 – Stellantis NV (NYSE / MTA / Euronext Paris: STLA) (“Stellantis”) has entered into exclusive negotiations with BNP Paribas Personal Finance (“BNPP PF”), Crédit Agricole Consumer Finance (“CACF”) and Santander Consumer Finance (“SCF”) aiming to better organize the current European financing landscape of Stellantis in order to offer coherent and attractive financing activities to all customers, resellers and distributors of the Stellantis brand.
“Following the recent completion of the acquisition of First Investors Financial Services Group in the United States, Stellantis reaffirms its commitment to further strengthen its global financing business, taking a further step in Europe with long-standing banking partners and creating a full-fledged rental company, ”said Carlos Tavares, CEO of Stellantis. “This is a strategic decision to leverage our financial performance in all European countries. This transformation, managed with leading partners, would allow Stellantis to offer a full range of products to all of its customers, resellers and brands.
- create a multi-brand operational leasing company in which Stellantis and CACF each hold 50%, resulting from the merger of the Leasys and F2ML activities, in order to become a European leader, and
- reorganize the financing activities through joint ventures formed with BNPP PF or SCF in each country to manage the financing activities of all the Stellantis brands.
As a result, it is expected that:
- CACF would acquire the 50% of FCA Bank and Leasys Rent shares currently held by Stellantis, on the understanding that these entities would continue to carry out their financing activities with other car manufacturers mainly within the framework of existing and future white label agreements;
- BNPP PF would operate financing activities (excluding B2B Operational Leasing) via JVs with Stellantis in Germany, Austria and the United Kingdom in order to become Stellantis’ exclusive partner for financing activities in these countries; and,
- SCF would operate financing activities (excluding B2B Operational Leasing) via JVs with Stellantis in France, Italy, Spain, Belgium, Poland, the Netherlands and via a commercial agreement in Portugal, to become the exclusive partner of Stellantis for the activities of funding in these countries.
The related agreements could be signed in the first quarter of 2022 following the information and consultation procedures of employee representative bodies on this plan.
The envisaged transactions are expected to be finalized in the first half of 2023 once the required authorization has been obtained from the relevant competition authorities and market regulators.
Societe Generale acts as financial advisor to Stellantis.
Stellantis is one of the world’s leading automakers and a mobility provider, guided by a clear vision: to deliver freedom of movement with ad reliable mobility solutions. In addition to the Group’s rich heritage and broad geographic presence, its greatest strengths lie in its sustainable performance, extensive experience and the diverse talents of its employees working around the world. Stellantis is backed by its broad portfolio of iconic brands, which was founded by visionaries who instilled a passion and competitive spirit in brands that speaks to employees and customers alike. Stellantis aspires to be the biggest, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates.
For more information, contact:
Valérie GILLOT: + 33 6 83 92 92 96 – [email protected]
Valérie BENSOUSSAN: + 33 6 76 86 95 44 – [email protected]
This communication contains forward-looking statements. In particular, statements regarding future events and anticipated operating results, business strategies, anticipated benefits of the proposed transaction, future financial and operating results, the expected closing date of the proposed transaction and other expected aspects of our operations or results of operations are forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe” , “Stay”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “outlook”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on Stellantis’ current state of knowledge, future expectations and projections of future events and are, by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances which may or may not occur or exist in the future and, as such, should not be unduly relied on.
Actual results may differ materially from those expressed in forward-looking statements due to various factors, including: the impact of the COVID-19 pandemic, Stellantis’ ability to successfully launch new products and maintain sales volumes shipping of vehicles; the evolution of global financial markets, the general economic environment and the evolution of the demand for automotive products, which is subject to cyclicality; changes in local economic and political conditions, changes in trade policy and the imposition of global and regional tariffs or tariffs targeted on the automotive industry, the enactment of tax reforms or other changes in laws and regulations fiscal; the ability of Stellantis to develop some of their brands on a global basis; its ability to offer innovative and attractive products; its ability to develop, manufacture and sell vehicles with advanced functionality, including electrification, connectivity and enhanced autonomous driving characteristics; various types of claims, lawsuits, government investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; significant operating expenses related to compliance with environmental, health and safety regulations; the level of intense competition in the automotive industry, which may increase as a result of consolidation; exposure to funding shortfalls in Stellantis defined benefit pension plans; the ability to provide or organize access to adequate financing for dealers and retail customers and the associated risks associated with the establishment and operations of financial services companies; the ability to access financing to execute Stellantis business plans and improve its business, financial condition and results of operations; a significant malfunction, interruption or security breach compromising the computer systems or electronic control systems contained in Stellantis vehicles; the ability of Stellantis to realize the expected benefits of the joint venture arrangements; disruptions resulting from political, social and economic instability; risks associated with our relationships with employees, resellers and suppliers; cost increases, supply interruptions or shortages of raw materials, parts, components and systems used in Stellantis vehicles; changes in labor and labor relations and changes in applicable labor legislation; fluctuations in exchange rates, changes in interest rates, credit risk and other market risks; political and civil unrest; earthquakes or other disasters; and other risks and uncertainties.
All forward-looking statements contained in this communication speak only as of the date of this document, and Stellantis disclaims any obligation to publicly update or revise any forward-looking statements. Further information regarding Stellantis and its business, including factors that could materially affect Stellantis ‘financial results, are included in Stellantis’ reports and filings with the United States Securities and Exchange Commission and the United States. ‘AFM.
20211217 Stellantis announces European bank_EN