Stellantis (NYSE: STLA) to sell majority stake in Comau robotics unit to One Equity Partners

MILAN (Reuters) – Carmaker Stellantis (NYSE: STLA) will sell a majority stake in its robotic unit Comau to One Equity Partners, the three companies said in a statement on Thursday, in a move aimed at supporting Comau expansion beyond the automotive sector.

Financial details of the agreement were not disclosed, but private equity firm One Equity will make a “majority investment” in Comau, and Stellantis will remain an active minority shareholder.

The deal will give One Equity a 50.1% stake in the company and Stellantis 49.9%, a source close to the matter told Reuters.

“We have deep expertise in executing complex corporate carve-out transactions, and we believe we have the resources to help position Comau as a successful stand-alone business,” said Ante Kusurin, a partner at One Equity.

Comau Executive Chairman Alessandro Nasi and CEO Pietro Gorlier will retain their jobs, the statement said.

“This operation is consistent with Comau’s strategic plan, which aims to expand its business beyond the automotive sector, targeting the global demand growth for industrial automation,” Gorlier said.

The deal is expected to close by the end of this year.

U.S.-based One Equity Partners invests in businesses in the industrial, healthcare and technology industries in the U.S. and Europe. Italy-based Comau, a former unit of Fiat, specialises in industrial automation and advanced robotics.

Stellantis CEO Carlos Tavares said the deal would help Comau achieve autonomy and strengthen its position.

“It also gives Stellantis the ability to focus on core business activities in Europe,” Tavares added.