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Stellantis reshuffles European financing operations through new JVs with banks -Breaking

by Mike Robinson

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© Reuters. View of Stellantis’ logo at Hordain factory, France. July 7, 2021. REUTERS/Pascal Rossignol

MILAN (Reuters – Stellantis announced Friday that it has entered into exclusive discussions with BNP Paribas, Credit Agricole and Santander as part of its efforts to improve Europe’s financing through new partnerships.

According to the world’s fourth-largest carmaker, it plans to establish a 50-50 operating leasing company with Credit Agricole Consumer Finance while restructuring its financing activities in every country through joint ventures with BNP Paribas Personal Finance or Santander Consumer Finance.

Stellantis stated that the relevant agreements might be signed during the first quarter next year and the transaction is expected to be complete in the first half of 2023.

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