Stellantis, GM To Execute Share Repurchase Transaction

(RTTNews) - Stellantis N.V. and General Motors Holdings have executed a share repurchase agreement related to the 69.1 million common shares in Stellantis, representing about 2.2% of Stellantis' share capital, that GM is entitled to receive upon the exercise of equity warrants originally issued by Peugeot S.A. to GM in 2017, Stellantis said in a statement.

The Warrants were issued to GM as part of the purchase by PSA of the Opel Vauxhall automotive business. Upon exercise of the Warrants, Stellantis will also deliver to GM about 1.2 million common shares of Faurecia and an aggregate cash amount of about 130 million euros for rights to dividends paid by PSA and Stellantis.

As per the share repurchase agreement, the issue and the repurchase of Stellantis common shares will both occur on September 15. The purchase price paid by Stellantis for the common shares will amount, in total, to 923.25 million euros.