Binder Groesswang, working with Clifford Chance’s German office, has advised BNP Paribas Personal Finance on the reorganization of the European financing landscape of automaker and mobility provider Stellantis N.V.
Credit Agricole Consumer Finance and Santander Consumer Finance were also involved in the restructuring process. The transactions are expected to close in the first half of 2023.
According to Binder Groesswang, the objective of the restructuring is to “reshape the future of mobility as a service and to provide uniform and attractive financing offers to all customers, dealers, and distribution partners of the Stellantis brand. Stellantis intends to organize its financing activities through joint ventures set up with BNP Paribas Personal Finance in different countries to manage the financing activities for all Stellantis brands. BNP Paribas is to become the exclusive partner of Stellantis for the financing activities, in particular in Germany, Austria, and the United Kingdom.”
Binder Groesswang’s team included Partners Thomas Schirmer, Horst Lukanec, and Stephan Heckenthaler, Counsel Stefan Frank, Attorneys Mona Holzgruber, Moritz Salzgeber, and Johannes Bammer, and Associates Michael Mittermair, Andreas Perkonig, and Adam Weicheng Wu.
