Stellantis Restructures European Financing, Leasing Operations
April 04 2023 - 3:34AM
Dow Jones News
By Adria Calatayud
Stellantis NV said Tuesday that it is launching a new structure
for its financing and leasing services in Europe under the
Stellantis Financial Services and Leasys brands.
The European car maker said Banque PSA Finance is being renamed
Stellantis Financial Services and that it will operate as a unified
cluster of financing companies in partnership with BNP Paribas SA's
personal-finance arm and Banco Santander SA's consumer-finance
unit.
Stellantis said its European leasing operations will be housed
under the Leasys brand, a 50/50 joint venture with Credit Agricole
SA's consumer-finance operations following the combination of
Leasys and Free2move Lease. Credit Agricole Consumer Finance has
acquired the 50% stake in FCA Bank Group that was previously owned
by Stellantis, the car maker said.
Antitrust authorities and market regulators have approved the
various transactions, Stellantis said.
The company had previously said it aimed to double net banking
income by the end of the decade as part of its strategic plan.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
April 04, 2023 03:19 ET (07:19 GMT)
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