Stellantis plans to acquire a majority stake in the joint venture with GAC Group in China, going from 50% to 75%. This was announced in a press release, specifying that it is "a possible change thanks to the new regulatory framework that allows further foreign investments in existing joint ventures". Stellantis and GAC Group "will continue to cooperate to develop the successful commercial potential of the Jeep brand in China", adds the note specifying that it is the "first fundamental step to rationalize operations in China, as part of the strategic plan of the company that will be announced on March 1st ".
Stellantis is ready to repay, one year in advance, the 6.3 billion euro loan granted in March 2020 by Intesa Sanpaolo and guaranteed by Sace.
This is what the Bloomberg agency reports.
The company does not comment on the press indiscretion.