Three days after the closing of the merger between FCA and PSA to give life to Stellantis, the world’s fourth largest carmaker, today Fiat Chrysler Automobiles announced that the dividend declared on January 4 “has become unconditional” and will be paid on January 29 for the shares listed on the NYSE and for those listed on the Milan Stock Exchange. As already announced, the extraordinary dividend of € 1.84 per ordinary share corresponding to a total distribution of approximately € 2.9 billion “will be payable to the holders of FCA ordinary shares entitled to receive it by the close of trading on Friday 15 January 2021. “.
For shareholders holding ordinary shares traded on the NYSE, the dividend will be paid in dollars at the official dollar / euro exchange rate communicated by the European Central Bank. Although the extraordinary dividend is paid after the completion of the merger between FCA and PSA, in order to avoid any doubts, it was specified that the dividend “will not be payable on Stellantis shares issued in favor of the previous shareholders of PSA at the time of the effectiveness of the merger or to other shareholders who will purchase Stellantis shares after the merger becomes effective “. It was also recalled that Stellantis ordinary shares will begin trading on the Mercato Telematico Azionario in Milan and on the Euronext in Paris on Monday 18 January, on the New York Stock Exchange on Tuesday 19 January 2021,
Just today Fismic Confsal received reassurances on the investments of the new group in Italy. In December there were numerous meetings with Pietro Gorlier, head of the EMEA area who essentially reiterated that the investments envisaged in the industrial plan (over 5 billion) have all been authorized and are being implemented. The new models envisaged in the plan (500BEV, Tonale, Grecale, Jeep Compass …) are all in the pipeline, and the relaunch of the Maserati brand is expected and the delay due to the pandemic is rapidly catching up.
“Turin has authoritatively applied to play the role of R&D and design of the transition to electric. All models will quickly make the technological leap, and the Giorgio platform is a candidate to set up all future high-end Stellantis models. In addition, the role of president John Elkann and an operational role alongside that of Carlos Tavares “, underlined Roberto Di Maulo, general secretary of Fismic Confsal. “Finally, we had the reassurance that all phases of production, design, engineering and components currently allocated in Italy will in the future be under national governance”.
All elements that lead us to believe that “the numerous cries of alarm of the usual catastrophists who see the end of the Automotive industry in Italy are without any foundation. Stellantis was born with a deep imprint given by the national Automotive sector and, the high rate of innovation that has our industry in the sector, including components, will only receive benefits from the establishment of the fourth largest car manufacturer in the world “, concluded Di Maulo. In the next few days, Fismic Confsal will ask Fiona Cicconi, a member of the Stellantis board of directors, for a meeting through the HR FCA manager, to coordinate the next steps of the union to continue monitoring the first phases of the new group.
Today the FCA stock reverses 1.49% to 14.456 euros in Milan and PSA by 1.92% to 21.98 euros in Paris. Stellantis is the fourth largest car manufacturer in the world with 8.1 million cars sold, over 180 billion euros in turnover, 400,000 employees and synergies for 5 billion euros. Exor, the holding company of the Agnelli-Elkann family, will have approximately 14.4% of the new group and will be the first shareholder. The other major shareholders will be the largest shareholders of Psa: the Peugeot family with 7.2% (with an option to rise to 8.5%), the French state with 6.2% through the subsidiary Bpi and Dongfeng Chinese with 5.6%.
Meanwhile, Leasys’ development path continues in the field of digital innovation. The company controlled by FCA Bank, leader in mobility in Italy and one of the main players in Europe, has in fact signed a partnership with WizKey, a fintech active in offering solutions for the credit market, for the use of the “Define” platform. as part of the process for the sale of its non-performing loan (Npl) stocks. A partnership that will lead the way for new advanced solutions for the NPL market and will improve the management of the new wave of impaired loans, deriving from the economic crisis triggered by the pandemic in progress.
The platform allows the digitalization of the entire process of negotiation and credit transfer (also in the context of securitization transactions), giving a concrete push to the standardization of processes, thus favoring the creation of a secondary market for transparent, liquid and efficient. “The partnership with Leasys makes us particularly proud of the work we have been carrying out for months now: it is a fundamental starting point for promoting an initiative that will completely transform the credit market”, commented Marco Pagani, CEO and founder of WizKey, recalling how the 2008 financial crisis has already shown us how inefficient management of impaired loans puts the entire country system under stress and can cause serious systemic risks.
“The need for technologically advanced tools to face the next wave of NPLs, strictly connected to the current recession and which will manifest itself more strongly in the next few years, is increasingly evident”, added Pagani. The initiatives undertaken in the context of the digitalization of credit management “have allowed us to limit the economic impacts of the pandemic, and will act as a driving force for the relaunch of the business over 2021”, said, instead, Dario Petrelli, Credit Director of Leasys. (All rights reserved)
