{"id":12827,"date":"2021-11-02T12:46:01","date_gmt":"2021-11-02T16:46:01","guid":{"rendered":"https:\/\/autosector.com\/auto\/?p=12827"},"modified":"2021-11-02T12:46:01","modified_gmt":"2021-11-02T16:46:01","slug":"stellantis-completes-captive-finance-arm-buy","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=12827","title":{"rendered":"Stellantis completes captive finance arm buy – Just Auto"},"content":{"rendered":"
\n
\n\t\t\t\t\t\t\t \"Stellantis<\/a>\n\t\t\t\t\t\t\t <\/div>\n<\/figure>\n

Stellantis announced completion of the acquisition of F1 Holdings, parent company of First Investors Financial Services Group from an investor group headed by Gallatin Point Capital.\n<\/p>\n

The acquisition, previously announced in September<\/a>, closed at the agreed conditions and within the period indicated at signing.\n<\/p>\n

First Investors, renamed Stellantis Financial Services US, will be the basis of a full service captive finance arm. US buyers and dealers will be offered a complete range of finance packages in the near to medium term, including retail loans, leases and floorplan financing.<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t <\/p>\n

\u201cWith the acquisition of First Investors, we will quickly develop a captive financial arm in the United States, offering a complete range of products,\u201d said Philippe De Rovira, chief affiliates officer.<\/p>\n

\u201cAcquiring First Investors supports the growth plan for Stellantis\u2019 business in the US,\u201d said CGO Richard Palmer.<\/p>\n

The management, with average tenure of 18 years in the financial industry, is expected to remain in place, the automaker said.\n<\/p>\n