Stellantis and General Motors complete a share buyback deal
AMSTERDAM, 13 September 2022 – Stellantis NV. and General Motors Holdings LLC, a subsidiary of General Motors Company (“GM”), have entered into a share repurchase agreement (“SRA”) relating to 69.1 million shares of Stellantis common stock, representing approximately 2.2% of Stellantis’ common stock (on a diluted basis) to which GM is entitled upon the exercise of stock warrants (the “Warrants”) originally issued to GM by Peugeot SA (“PSA”) in 2017.
The warrants were granted to GM as part of PSA’s acquisition of the Opel Vauxhall automotive business. Upon exercise of the warrants, Stellantis will also deliver approximately 1.2 million shares of Faurecia common stock and an aggregate cash amount of approximately €130 million to GM for entitlement to dividends paid by PSA and Stellantis.
Under the SRA, the issuance and repurchase of Stellantis common stock will occur on September 15 of each year. The total purchase price paid by Stellantis for the common shares is EUR 923,247,678 (this amount is based on the volume-weighted average price of one Stellantis common share on the Euronext regulated market in Milan over the last five trading days).
This purchase of Stellantis common stock by Stellantis from GM is being conducted pursuant to the authorization granted by the shareholders’ meeting on April 13, 2022.
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About Stellantis
Stellantis NV STLA is one of the world‘s leading automobile manufacturer and mobility provider. It is Historic and iconic brands embody the passion of their visionary founders and today‘s customers in their innovative Products and services including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leeasys. Driven by our diversity, we are world leaders with aspirations to become the largest sustainable mobility technology company, not the largest, while creating value for all…
