Stellantis N.V. and Banco Santander (Brasil) S.A. have agreed to reorganize their automotive financing partnership in Brazil.
The contract signed with Banco Santander Brasil S.A. includes:
- the purchase by Banque PSA Finance S.A. of 50% of the shares in Banco PSA Finance Brasil S.A., a joint venture which was held 50/50 by a subsidiary of Banco Santander Brasil and Banque PSA Finance S.A.
- the purchase by Stellantis Services Ltd. of 50% of the shares in PSA Corretora de Seguros e Services Ltd, a joint venture held 50/50 by Banco Santander Brasil and Stellantis Services Ltd.
The completion of the transactions will be subject to the fulfillment of certain suspensive conditions usual in similar transactions, including obtaining the relevant regulatory authorizations.
Upon completion, Banque PSA S.A. will become the sole shareholder of Banco PSA Finance Brasil and Stellantis Services Ltd. will be the sole shareholder of PSA Corretora.
“These agreements are a new lever to boost value creation across our financial services business worldwide and are fully consistent with Stellantis Dare Forward 2030 strategic plan,” said Philippe de Rovira, Stellantis Chief Affiliates Officer.
SOURCE: Stellantis
