Used cars: Aramis Auto (Stellantis) could be IPO and acquired in the UK

Posted in

SP / Peugeot

There is a major IPO looming for 2021 on the Paris Stock Exchange. The online dealership platform Aramis Auto, a subsidiary of Stellantis (resulting from the merger between PSA Peugeot Citroën and Fiat Chrysler), which wants to “accelerate its European expansion”, wants to “explore the possibility of an initial public offering in Euronext Paris in 2021”, with Observing market conditions and obtaining regulatory licenses. The management affirmed that “the initial public offering would enhance the strategic and financial flexibility of the group to enable it to seize the important upcoming growth opportunities and accelerate its development in Europe”, in a “highly fragmented” market.

Aramis, according to its press release, has acquired a majority stake in MotorDepot Ltd, the parent company of CarSupermarket.com, which is presented as a “British leader in selling used cars”. The group did not disclose the exact terms of the deal, which would raise the threshold of one billion euros in trading volume, after its expansion in Spain with Clicars in 2017 and in Belgium with Cardoen in 2018.

>> To read also – IPO: Underwriting principle

Prior to its merger with FCA within Stellantis, PSA acquired about 70% of Aramis’s capital. In the event of an IPO, Stellantis will “retain a majority stake in the group, while the two co-founders of the Aramis Group will remain major shareholders,” according to the press release. From September 2019 to September 2020, in a very dynamic second-hand market, Aramis recorded a turnover of 831 million euros, an increase of 12% within one year.

See also  Snapchat is gaining users in India

>> Our service – Save money by taking a car insurance comparison test

Founded in 2001, CarSupermarket.com reported sales of over £ 220m in 2020, with 20,000 cars sold through its CarSupermarket.com and Motordepot.co.uk brands, and a network of 12 dealerships. Like Aramis, CarSupermarket.com also operates a vehicle regeneration website.

>> Read also – HRS, OVH … the most awaited IPOs on the Paris Stock Exchange

Leave a Reply

Your email address will not be published.