Stellantis is Russian Railways make cash with Gefco. According to rumors reported by the agency Reuters, the automaker and the Russian railways have started the group’s sales process, active in transport and logistics services. THEThe mandate, he writes MF, was awarded to JpMorgan is Rothschild who will have the task of finding a buyer willing to shell out at least two billion euros.
Several potential buyers have already come forward for Gefco, which is heading to close 2021 with a turnover of 4.4 billion euros with a gross operating margin of 345 million. The group was founded in 1949 by Peugeot, who has long been its sole shareholder. In 2012, however, the French manufacturer sold 75% of Gefco to Russian railways for 800 million euros, retaining the residual 25% of the capital currently held by Stellantis.
The house born from the merger between Fiat-Chrysler however, it remains the first customer of the logistics company and is responsible for 50% of its turnover. To keep costs down, however, the CEO Carlos Tavares recently reported its intention to reduce orders to Gefco, which employs 11,500 people in 46 countries, including Italy.
It is not clear whether for this or for what other reasons the two shareholders have decided to undertake the sale process after having tried unsuccessfully in recent years to list Gefco on the stock exchange. The possible sale of the group for 2 billion euros, in any case, it would yield to Stellantis about 500 million euros, useful to support the huge investments necessary to complete the electric turning point of the car.