Stellantis & Dongfeng Agree On A Share Repurchase Framework!

Over 99.2 Million Common Shares Of The Company...

Stellantis and Dongfeng Motor (Hong Kong) International Co., Limited, a subsidiary of Dongfeng Motor Group Company Limited (“Dongfeng”) have executed a heads of agreement (“HOA”) related to the 99.2 million common shares in Stellantis held by Dongfeng, representing 3.16% of Stellantis’ share capital.

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Under the HoA, Dongfeng may from time to time submit an offer to sell to Stellantis, all or a portion of the Stellantis common shares held by Dongfeng. Stellantis will have the right but not the obligation to accept such an offer and purchase the offered shares at the average of the closing prices per Stellantis share on Euronext Milan for the five trading day period immediately prior to the date on which Dongfeng submits the offer.

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In case Dongfeng determines to dispose of any of its Stellantis common shares through an accelerated book build (ABB) process, Dongfeng will offer Stellantis the opportunity to act as a cornerstone investor in that transaction, at the offer price resulting from the ABB process.

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Any purchase of Stellantis common shares by Stellantis from Dongfeng will be carried out under the authority granted by the general meeting of April 13, 2022, as possibly renewed or extended.

Stellantis will inform the market if it accepts an offer from Dongfeng and agrees to purchase the offered shares.

Source: Stellantis

Robert S. Miller

Robert S. Miller is a diehard Mopar enthusiast who lives and breathes all that is Mopar. The Michigander is not only the Editor for MoparInsiders.com, 5thGenRams.com, and HDRams.com but an automotive photographer. He is an avid fan of offshore powerboat racing, which he travels the country to take part in.

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I dont understand what this means

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I dont understand what this means

Stellantis agreed to buy Dongfeng remaining stake in Stellantis.

After bailing out PSA in 2014 Dongfeng agreed to became a non-voting shareholder in order to complete FCA-PSA Merger. Dongfeng been selling since the merger was announced.

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