Binder Grösswang | View firm profile
Together with Clifford Chance, Binder Grösswang has advised leading European bank BNP Paribas Personal Finance on the reorganisation of the European financing landscape of leading automaker and mobility provider Stellantis N.V.
The objective of the restructuring, in which Crédit Agricole Consumer Finance and Santander Consumer Finance are also involved, 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 organise 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.
The transactions are expected to close in the first half of 2023, following the completion of information and consultation procedures with staff representatives in the first quarter of 2022 and the approval of the relevant antitrust and market regulation authorities.
The Binder Grösswang lead team advised on the Austrian aspects of the transaction and included partner Thomas Schirmer, attorneys at law Mona Holzgruber and Moritz Salzgeber and associate Michael Mittermair (all Corporate / M&A).
Also involved were partner Stephan Heckenthaler, counsel Stefan Frank and associate Andreas Perkonig (all Banking & Finance), partner Horst Lukanec and attorney at law Johannes Bammer (both Employment Law), and associate Adam Weicheng Wu (Real Estate Law).
The international Clifford Chance team advising BNP Paribas was led by partner Thomas Krecek, counsel Moritz Petersen (both Frankfurt) and senior associate Samuel Frommelt (Munich) (all Corporate / M&A).