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Classics Used car: Aramis Auto (Stellantis) could go public, UK acquisition

12:05  09 march  2021
12:05  09 march  2021 Source:   pressfrom.com

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Voiture d’occasion : Aramis Auto (Stellantis) pourrait entrer en Bourse, acquisition au Royaume-Uni © SP / Peugeot Used car: Aramis Auto (Stellantis) could go public, UK acquisition Aramis Auto, a subsidiary of Stellantis (PSA - FCA), buys CarSupermarket.com - a "British pioneer in the sale of used cars" - and aims for a possible IPO.

A major IPO is looming for 2021 on the Paris Stock Exchange. Wishing to "accelerate its European expansion", the internet vehicle sales platform Aramis Auto, a subsidiary of Stellantis (resulting from the merger between PSA Peugeot Citroën and Fiat Chrysler), wants to "explore the possibility of an introduction on the Stock Exchange on Euronext Paris in 2021 ", subject to market conditions and to obtaining regulatory authorizations. "An IPO would strengthen the strategic and financial flexibility of the group to enable it to seize the important growth opportunities to come and accelerate its development in Europe", in a market "very fragmented", underlines the management.

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Aramis has, according to its press release, acquired a majority stake in MotorDepot Ltd, the parent company of the CarSupermarket.com site, presented as a "British pioneer in the sale of used cars ". The group does not disclose the precise terms of the transaction, which will raise the bar of one billion euros in turnover, after its expansion in Spain with Clicars in 2017 and in Belgium with Cardoen in 2018.

> > To read also - IPO: principle of the IPO

Before its merger with FCA within Stellantis, PSA had acquired approximately 70% of the capital of Aramis. In the event of an IPO, Stellantis "would retain a majority stake in the group, while the two co-founders of Aramis Group would remain key 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, up 12% over one year.

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Founded in 2001, CarSupermarket.com recorded more than £ 220 million in sales in 2020, selling 20,000 cars via its two brands "CarSupermarket.com" and "Motordepot.co.uk", and a network of 12 agencies. Like Aramis, CarSupermarket.com also operates a vehicle reconditioning site.

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2022 Toyota 86 embraces sports car evolution with fresh looks, more power .
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