Stellantis Repurchases €934M in Shares from Dongfeng

Stellantis* and Dongfeng Motor (Hong Kong) International, a subsidiary of Dongfeng Motor Group Company confirmed today that Stellantis repurchased 50 million common shares (1.58% of Stellantis’ share capital pre-cancellation) from Dongfeng, for a total of €934 million. Stellantis plans to cancel these shares.

This is in accordance with the terms of the previously announced share repurchase framework agreed by the two parties on 15 July 2022. Dongfeng submitted an offer to sell to Stellantis specifying both the number of shares and the potential transaction timing, and Stellantis exercised its right to accept the offer. According to the terms of the share repurchase framework, pricing was set at the five-day average closing price of Stellantis shares on Euronext Milan for the period ending immediately prior to the date on which Dongfeng submitted an offer. which was on 21 November 21 2023.

Dongfeng will retain 49.2 million common shares, representing 1.58% of Stellantis’ share capital post-cancellation, and the share repurchase framework agreed between the two parties remains in place with respect to such shares.

“The purchase of Stellantis common shares by Stellantis from Dongfeng was carried out under the authority granted by Stellantis’ general meeting of April 13, 2023. The share repurchase transaction with Dongfeng will not impact Stellantis’ €1.5 billion open-market share repurchase program announced February 22, 2023, which is expected to complete by the end of 2023,” Stellantis said.

*Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers and a mobility provider. Its brands include Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis was formed by a merger of FCA and PSA in January of 2021.