ROME – Stellantis (NYSE: STLA) is on course to secure Italian government backing for its planned sale of a majority stake in robotics business Comau to One Equity Partners, a source close to the matter said on Wednesday.
So-called golden power legislation gives the government the right to block or set conditions on deals concerning Italian companies that operate in strategic sectors.
Speaking on anonymity condition, the source said the government was leaning towards conditional approval of the Comau transaction.
One Equity, which invests in businesses in the industrial, healthcare, and technology industries in the United States and Europe, is expected to take a 50.1% stake in the company, with Stellantis retaining the remaining 49.9%, Reuters reported previously.
The deal has been criticized by Italian trade unions, which called on Prime Minister Giorgia Meloni’s government to intervene.
A Comau spin-off from Stellantis (NYSE: STLA) was part of agreements between Fiat Chrysler and France’s PSA, which merged in 2021 to create Stellantis, a Franco-Italian-US conglomerate that includes the Jeep, Peugeot, Fiat and Opel brands.
(Source: Reuters)
Mark Glenn is a financial journalist and breaking news reporter for ABBO News. Mark is known for his ability to deliver real-time news updates on market developments, mergers and acquisitions, corporate earnings reports, and regulatory changes, helping investors stay informed and make sound financial decisions.
