Italian Government Open To Owning Stake In Stellantis



According to Italian deputy Economy Minister Antonio Misiani, Italy could take a stake in Stellantis as long as such an investment would be deemed beneficial by all parties.

Earlier this week, both Fiat Chrysler and PSA shareholders approved the $52 billion merger, thus creating the world’s fourth-largest carmaker – or sixth-largest if we go by 2020 figures. FCA and PSA declined to comment on Misiani’s quotes, reports Reuters.

“A possible presence of the Italian State in the capital of the new group, similar to that of the French government … cannot and must not be a taboo,” said Misiani in an interview with Italian newspaper La Repubblica.

Read Also: Chrysler May Be On The Chopping Block Following FCA And PSA Merger

Stellantis’ largest single investor is actually Exor (14.4% stake), the Agnelli family’s holding, which also happens to be FCA’s main shareholder. France meanwhile already owns a 6.2% stake in Stellantis through public bank BPI France. The merger is expected to be finalized on January 16.

Misiani added that Stellantis raises national interest from an employment and industrial point of view, adding that a possible investment could take place but only under certain conditions, “which do not exist at the moment.”

The Italian deputy minister also spoke about the industry’s need to look beyond incentive mechanisms already in place, and adopt a new medium to long term perspective with environmental benefits in mind.

“Technological challenges intersect with the ecological transition […]. This is precisely why important resources could come from the EU Recovery fund, which pays a lot of attention to decarbonisation.”

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Updated: January 6, 2021 — 2:02 pm

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