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Stellantis set to secure Italian approval for Comau stake sale, says source
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Stellantis set to secure Italian approval for Comau stake sale, says source
Oct 10, 2024 9:55 PM

ROME, Oct 9 (Reuters) - Carmaker Stellantis 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 condition of anonymity, 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 ( STLA ) retaining the remaining 49.9%, Reuters reported

previously.

The deal has been criticised by Italian trade unions, which

called on Prime Minister Giorgia Meloni's government to

intervene.

A Comau spin-off from Stellantis ( STLA ) was part of agreements

between Fiat Chrysler and France's PSA, which merged in 2021 to

create Stellantis ( STLA ), a Franco-Italian-US conglomerate which

includes the Jeep, Peugeot, Fiat and Opel brands.

(Reporting by Giuseppe Fonte

Editing by Alvise Armellini and David Goodman

)

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