May 9 (SeeNews) - Serbia’s OMR Group has signed an agreement with Fiat Chrysler Automobiles (FCA) Serbia, a subsidiary of multinational automotive manufacturing corporation Stellantis, to acquire its distribution business in Serbia and Montenegro, the law firm representing FCA Serbia in the planned transaction said on Tuesday.
The price of the deal was not disclosed.
You can subscribe to our M&A newsletter here
The distribution business of FCA Serbia encompasses the distribution of automotive brands Abarth, Alfa Romeo, Fiat, Fiat Professional and Jeep, law firm Karanovic and Partners said in a press release.
Completion of the transaction is subject to merger clearance by the competition authority.
Stellantis was formed in 2021 following a merger between FCA and the France's PSA Group.
FCA holds 67% of the capital of FCA Serbia and the Serbian government holds the remainder.
OMR Group is a Serbian automotive, insurance, leasing, fleet management and real estate group of companies.