MEXICO CITY, April 2 (Reuters) - Mexican bank Grupo

Financiero Inbursa said it will sell a 49.9% stake in its

automotive finance unit STM Financial to Fidis, a subsidiary of

car manufacturer Stellantis ( STLA ).

WHY IT'S IMPORTANT

Inbursa, owned by Mexican tycoon Carlos Slim, aims to

consolidate its automotive financing business through the deal,

allowing Fidis to expand its financial services in the Mexican

market.

KEY QUOTES

Jorge Gutierrez, retail banking director at Inbursa, said

the bank's strength and experience in financial services,

combined with the prestige of Stellantis ( STLA ), will allow the

companies to improve their services.

"We believe this acquisition will enable Stellantis ( STLA ) to

compete more effectively and offer our customers bespoke

products in this important market," said Philippe de Rovira,

executive vice president of Stellantis ( STLA ), in a statement on

Tuesday.

WHAT'S NEXT

The partnership between Inbursa and Stellantis ( STLA ) through the

stake sale is still pending regulatory approval.