Introduction
Mexican bank Grupo Financiero Inbursa is set to sell a
49.9% stake in its automotive finance unit STM Financial to Fidis, a subsidiary of car manufacturer Stellantis.
Context
Inbursa, owned by Mexican tycoon Carlos Slim, seeks to strengthen its automotive financing business with this deal, which will enable Fidis to enhance its financial services within the Mexican market.
Developments
Strategic Implications
Jorge Gutierrez, retail banking director at Inbursa, highlighted that the bank's expertise in financial services, alongside Stellantis' reputation, will enhance service offerings.
Statements from Leadership
Philippe de Rovira, executive vice president of Stellantis, mentioned that the acquisition would enable Stellantis to compete more effectively and provide customized products to customers in this significant market.
Conclusion
The partnership between Inbursa and Stellantis through this stake sale is awaiting regulatory approval.