Santander Consumer Issues Statement on Chrysler Capital

Santander Consumer USA and Fiat Chrysler US exploring options for Chrysler Capital Santander Consumer USA Holdings Inc. (NYSE: SC) (“SC” or “the Company”) is in exploratory discussions with FCA US LLC (“FCA”) regarding plans for FCA’s US operations. Specifically, FCA expressed its desire to establish a captive US auto finance unit in the future, and indicated that acquiring Chrysler Capital is one option it will consider. The Chrysler Capital brand operates under a private label financing agreement between SC and FCA, which is in year six of a 10-year term. Under the Equity Option Agreement, FCA has the right to purchase, at fair value, an equity participation in the Chrysler Capital portion of the Company’s business. SC today issued the following statement: “SC is committed to pursuing an outcome for Chrysler Capital that is in the best interests of the Company, its shareholders and other key stakeholders. There are a number of possibilities for the next phase of our relationship


See More Press Releases