Automotive giant Stellantis has agreed a deal with General Motors for the purchase of more than 69 million shares in exchange for $1.8b! As part of the deal, Stellantis has also bought 1.2m common shares in French automotive parts manufacturer, Faurecia.
However, the bulk of the deal is for shares that were issued to General Motors as part of the Peugeot-Citroen Groupe’s purchase of Opel and Vauxhall in 2017. An exchange that will represent an approximate figure of 2.2% of Stellantis’ share capital. Formed in 2021, Stellantis can now use this move to self-determine the respective brands’ future with smoother company decisions.
Stellantis have also agreed a deal with Dongfeng Motor International to repurchase 99.2m common shares (3.2% of its capital) at the discretion of the Chinese car manufacturing group.
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Pictures courtesy of Stellantis Media.
