BNP Paribas Personal Finance’s Reorganisation of the European Financing Landscape of Stellantis

Clifford Chance has advised BNP Paribas Personal Finance on the matter, while Binder Grösswang served as local counsel for Austrian legal aspects in the transactions. BonelliErede and Darrois Villey Maillot Brochier advised CACF. Bredin Prat advised Stellantis.

The reorganisation further involving Crédit Agricole Consumer Finance and Santander Consumer Finance is aimed at reshaping the future of mobility services, bringing consistent and attractive financing activities to all Stellantis brand customers, dealers and distributors.

With regard to the involvement of BNP Paribas Personal Finance (BNPP PF) in the transactions envisaged, Stellantis intends to reorganize the financing activities through joint ventures set up with BNPP PF in various countries to manage financing activities for all Stellantis brands. BNPP PF is to become Stellantis’ exclusive partner for financing activities in Germany, Austria and the UK in particular.

The proposed transactions are expected to be completed during the first half of 2023, following completion of the information and consultation procedures with staff representative bodies in the first quarter of 2022, and authorization from the relevant anti-trust authorities and market regulators.

Stellantis has been formed in 2021 on the basis of a 50-50 cross-border merger between Italian-American conglomerate Fiat Chrysler Automobiles and French PSA Group. Stellantis designs, develops, manufactures and sells automobiles under its 15 brands, including Alfa Romeo, Chrysler, Fiat, Jeep, Maserati, Opel and Peugeot.

The international Clifford Chance team advising BNP Paribas was led by partner Thomas Krecek (Picture), counsel Moritz Petersen (both Frankfurt) and senior associate Samuel Frommelt (Munich) (all Corporate/M&A); and comprised counsel Susanne Werry and associates Orsolya Gondos (both Corporate/Commercial, Frankfurt) as well as associate Thomas Conradi (Corporate/M&A, Munich); partner Marc Benzler, counsel Christian Hissnauer and senior associate Helene Uffelmann (all Global Financial Markets/Regulatory, Frankfurt); partner Stefan Simon and counsel Christopher Fischer (both Employment, Frankfurt) as well as partner Marc Besen and senior associate Caroline Scholke (both Antitrust, Düsseldorf). Further support was also provided by legal teams from the Clifford Chance offices in London, Paris, Barcelona, Madrid and Milan.

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.

The Bredin Prat team advising Stellantis included Benjamin Kanovitch, Kate Romain, Jean-Benoît Demaret, Jing Wei, Mathilde Avron, Ghita Maata, Olivier Bishop, Anne Robert, Franck Morhain, Paul Cauchin, Guillaume Dijan, Laetitia Tombarello, Alice Mony Decroix, Simon Dereix, Audrey Demourgues, Bena Mara, Ariel Axler, Mélanie Humbert, Priscilla Tshibemba, Samuel Pariente, Mathieu Arnault, Yelena Trifounovitch, Benoît Gérard et Julien Chevy.

Involved fees earner: Stefan Frank – Binder Grösswang Rechtsanwälte GmbH; Stephan Heckenthaler – Binder Grösswang Rechtsanwälte GmbH; Mona Holzgruber – Binder Grösswang Rechtsanwälte GmbH; Horst Lukanec – Binder Grösswang Rechtsanwälte GmbH; Michael Mittermair – Binder Grösswang Rechtsanwälte GmbH; Andreas Perkonig – Binder Grösswang Rechtsanwälte GmbH; Moritz Salzgeber – Binder Grösswang Rechtsanwälte GmbH; Thomas Schirmer – Binder Grösswang Rechtsanwälte GmbH; Adam Wu – Binder Grösswang Rechtsanwälte GmbH; Mathieu Arnault – Bredin Prat; Mathilde Avron – Bredin Prat; Ariel Axler – Bredin Prat; Olivier Bishop – Bredin Prat; Paul Cauchin – Bredin Prat; Jean-Benoît Demaret – Bredin Prat; Audrey Demourgues – Bredin Prat; Simon Dereix – Bredin Prat; Benoît Gérard – Bredin Prat; Benjamin Kanovitch – Bredin Prat; Ghita Maata – Bredin Prat; Bena Mara – Bredin Prat; Alice Mony Decroix – Bredin Prat; Franck Morhain – Bredin Prat; Samuel Pariente – Bredin Prat; Anne Robert – Bredin Prat; Kate Romain – Bredin Prat; Laetitia Tombarello – Bredin Prat; Yelena Trifounovitch – Bredin Prat; Jing Wei – Bredin Prat; Marc Benzler – Clifford Chance; Marc Besen – Clifford Chance; Thomas Conradi – Clifford Chance; Christopher Fischer – Clifford Chance; Samuel Frommelt – Clifford Chance; Orsolya Gondos – Clifford Chance; Christian Hissnauer – Clifford Chance; Thomas Krecek – Clifford Chance; Moritz Petersen – Clifford Chance; Caroline Scholke – Clifford Chance; Stefan Simon – Clifford Chance; Helene Uffelmann – Clifford Chance; Susanne Werry – Clifford Chance;

Law Firms: Binder Grösswang Rechtsanwälte GmbH; Bredin Prat; Clifford Chance;

Clients: BNP Paribas Personal Finance; Stellantis;

Giulia Di Palma

Author: Giulia Di Palma