French used automotive group Aramis is contemplating IPO, Auto Information, ET Auto
The corporate – 70% owned by Stellantis, the automaker ensuing from the merger of French PSA and Italian-American group Fiat Chrysler – has additionally introduced its entry into the UK market with a majority stake in MotorDepot, which owns the platform. kind CarSupermarket.com. .
He didn’t give monetary particulars for the acquisition, however mentioned in an announcement that he would carry Aramis’ annual gross sales to greater than € 1 billion ($ 1.2 billion).
The group is already current in Spain and Belgium and benefited from a rising curiosity in used automobiles throughout the COVID-19 pandemic, when individuals averted different modes of transport.
Its turnover, excluding sure Belgian buying and selling actions that it plans to stop, elevated by 16% to 851 million euros throughout its monetary yr till September 2020.
Stellantis would stay the bulk shareholder after a inventory market itemizing, Aramis mentioned, whereas two of the group’s co-founders are additionally mentioned to have stakes.
“An IPO would strengthen the group’s strategic and monetary flexibility to grab the essential development alternatives to return and speed up its growth throughout Europe,” mentioned the corporate.
French cloud computing service supplier OVHcloud has additionally began the method of a doable itemizing in Paris, a spokeswoman mentioned on Monday, after a gradual begin to the yr for French IPOs.