September 1, 2021
, Auburn Hills, Mich.
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) (“Stellantis”) now announced it has entered into a decisive agreement to acquire F1 Holdings Corp., primogenitor association to First Investors Financial Services Group (“First Investors”, or a “Company”), a heading eccentric car financial association in a United States of America, in an all money transaction for approximately $285 million, theme to adjustments for shutting change piece and certain superb options (the “Transaction”) from an financier organisation led by Gallatin Point Capital LLC (“Gallatin Point”) and including affiliates of Jacobs Asset Management, LLC.
Carlos Tavares, CEO of Stellantis, said: “This transaction outlines a poignant miracle in Stellantis’ sales financial plan in a vicious U.S. market. First Investors has an superb financial and operational platform, underpinned by a clever government team, with immeasurable believe in a car financial space. Direct tenure of a financial association in a U.S. is a white-space event that will concede Stellantis to yield a business and dealers a finish operation of financing options, including sell loans, leases, and floorplan financing in a near-to-medium term.”
Stellantis’ vital design is to settle a U.S. serf financial association to support a sales and entirely gain on a clever marketplace position while formulating long-term value for Stellantis shareholders. The merger of First Investors allows Stellantis to emanate a height from that to grow a full-service serf financial organization. Stellantis is a usually vital OEM now handling in a U.S. but a serf car financial company. The transaction represents a suggestive vital opportunity, with poignant intensity for accretive gain era and improving patron loyalty. A serf U.S. financial association will raise a tenure believe and connectivity in a digital age for business who squeeze a award-winning Jeep®, Ram, Dodge, Chrysler, Fiat and Alfa Romeo vehicles, and yield destiny opportunities to capacitate rising business strategies.
Tommy Moore, Jr., boss and CEO of First Investors, noted: “We are vehement to join a Stellantis team. Becoming partial of Stellantis provides long-term fortitude for a association and employees. We trust that there are poignant untapped expansion opportunities for First Investors underneath Stellantis tenure as we enhance a product apartment to support a car sales expansion of Stellantis. The First Investors government group is entirely committed to ensuring a well-spoken and fast formation into Stellantis. Meanwhile, we sojourn committed to stability to offer a loans and services to a existent network of dealers and stream business partners.”
The Transaction is approaching to tighten by a finish of 2021, theme to prevalent shutting conditions and regulatory approvals.
BofA Securities served as disdainful financial confidant and Sullivan Cromwell LLP as authorised confidant to Stellantis. Ardea Partners LP served as disdainful financial confidant and Goodwin Procter LLP as authorised confidant to Gallatin Point and a Company.
The Company is an car financial association intent in imagining and holding for investment car financial receivables and promissory records originated by franchised car dealers or by refinancing sell with a car owners. The Company is headquartered in Houston, Texas and has been in business for over 32 years.
Stellantis is one of a world’s heading automakers and a mobility provider, guided by a transparent vision: to offer leisure of transformation with distinctive, affordable and arguable mobility solutions. In further to a Group’s abounding birthright and extended geographic presence, a biggest strengths distortion in a tolerable performance, abyss of believe and a wide-ranging talents of employees operative around a globe. Stellantis leverages a extended and iconic code portfolio, that was founded by visionaries who infused a marques with passion and a rival suggestion that speaks to employees and business alike. Stellantis aspires to turn a greatest, not a biggest while formulating combined value for all stakeholders as good as a communities in that it operates.
This communication contains forward-looking statements. In particular, statements per destiny events and approaching formula of operations, business strategies, a approaching advantages of a due transaction, destiny financial and handling results, a approaching shutting date for a due transaction and other approaching aspects of a operations or handling formula are forward-looking statements. These statements might embody terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or identical terms. Forward-looking statements are not guarantees of destiny performance. Rather, they are formed on Stellantis’ stream state of knowledge, destiny expectations and projections about destiny events and are by their nature, theme to fundamental risks and uncertainties. They describe to events and count on resources that might or might not start or exist in a destiny and, as such, undue faith should not be placed on them.
Actual formula might differ materially from those voiced in forward-looking statements as a outcome of a accumulation of factors, including: uncertainties as to either a due transaction discussed in this request will be done or as to a timing thereof; a compensation of a conditions fashion to realisation of a due transaction, including a ability to secure regulatory approvals on a terms expected, during all or in a timely manner; a risk that a businesses of a parties will be adversely impacted during a pendency of a due transaction; a ability of Stellantis to successfully confederate a Company’s operations; business intrusion following a transaction; a outcome of a proclamation of a transaction on a ability of a Company to keep and sinecure pivotal crew and say family with customers, suppliers and others with whom a Company does business; a impact of a COVID-19 pandemic, a ability of Stellantis to launch new products successfully and to say car conveyance volumes; changes in a tellurian financial markets, ubiquitous mercantile sourroundings and changes in direct for automotive products, that is theme to cyclicality; changes in internal mercantile and domestic conditions, changes in trade process and a deception of tellurian and informal tariffs or tariffs targeted to a automotive industry, a dramatization of taxation reforms or other changes in taxation laws and regulations; Stellantis’ ability to enhance certain of their brands globally; a ability to offer innovative, appealing products; a ability to develop, make and sell vehicles with modernized facilities including extended electrification, connectivity and autonomous-driving characteristics; several forms of claims, lawsuits, bureaucratic investigations and other contingencies, including product guilt and guaranty claims and environmental claims, investigations and lawsuits; element handling expenditures in propinquity to correspondence with environmental, health and reserve regulations; a heated turn of foe in a automotive industry, that might boost due to consolidation; bearing to shortfalls in a appropriation of Stellantis’ tangible advantage grant plans; a ability to yield or arrange for entrance to adequate financing for dealers and sell business and compared risks compared to a investiture and operations of financial services companies; a ability to entrance appropriation to govern Stellantis’ business skeleton and urge a businesses, financial condition and formula of operations; a poignant malfunction, intrusion or confidence crack compromising information record systems or a electronic control systems contained in Stellantis’ vehicles; Stellantis’ ability to comprehend approaching advantages from corner try arrangements; disruptions outset from political, amicable and mercantile instability; risks compared with a family with employees, dealers and suppliers; increases in costs, disruptions of supply or shortages of tender materials, parts, components and systems used in Stellantis’ vehicles; developments in labor and industrial family and developments in germane labor laws; sell rate fluctuations, seductiveness rate changes, credit risk and other marketplace risks; domestic and polite unrest; earthquakes or other disasters; and other risks and uncertainties.
Any forward-looking statements contained in this communication pronounce usually as of a date of this request and Stellantis disclaims any requirement to refurbish or correct publicly forward-looking statements. Further information concerning Stellantis and a businesses, including factors that could materially impact Stellantis’ financial results, is enclosed in Stellantis’ reports and filings with a U.S. Securities and Exchange Commission, AFM, and CONSOB.