Stellantis Reportedly in Talks to Acquire CLN’s Italian Plants
Automaker Explores Potential Asset Purchase as CLN Seeks Financial Restructing
Stellantis is reportedly in discussions to acquire certain Italian assets of its primary supplier, CLN-Coils Lamiere Nastri SpA, as the latter seeks to alleviate its debt burden. According to sources cited by Bloomberg, these negotiations are part of CLN’s broader strategy to divest assets and restructure its financial obligations.
CLN, a longstanding manufacturer of metal components for the automotive sector, has been facing financial challenges, leading to its filing for court protection in October 2024. The company had previously proposed a 90% reduction of its unsecured debt, which was met with resistance from creditors. A revised proposal with a smaller reduction is currently under consideration.
In addition to the potential sale of its Italian plants, CLN is also in talks with Stellantis regarding the sale of facilities in Brazil and Poland. However, Stellantis has yet to make a formal commitment, and the future scope of CLN’s operations remains uncertain.
Founded post-World War II by Mario Magnetto, CLN is predominantly owned by the Magnetto family (75%), with the remaining stake held by steel producer ArcelorMittal. The company is headquartered near Turin, Italy, the historic base of Fiat—now a brand under Stellantis—and has expanded its operations across Europe, Latin America, China, and South Africa.
This development aligns with Stellantis Chairman John Elkann’s efforts to bolster Italian car production. Following the departure of former CEO Carlos Tavares, Elkann reaffirmed a commitment to procure €6 billion (approximately $6.5 billion) in orders from Italian suppliers during a parliamentary hearing in Rome earlier this month.
While official comments from Stellantis and CLN are pending, the potential acquisition of CLN’s Italian assets could represent a strategic move to stabilize the supply chain, preserve employment, and enhance production capabilities in the region amid ongoing challenges in the global automotive industry.
