Stellantis N.V. and General Motors Holdings LLC, a subsidiary of General Motors Company (“GM”) have executed a share repurchase agreement (“SRA”) related to the 69.1 million common shares in Stellantis, representing approximately 2.2% of Stellantis’ share capital (on a diluted basis), that GM is entitled to receive upon the exercise of equity warrants (the “Warrants”) originally issued by Peugeot S.A. (“PSA”) to GM in 2017.
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 approximately 1.2 million common shares of Faurecia and an aggregate cash amount of approximately EUR130 million for rights to dividends paid by PSA and Stellantis.
Pursuant to the SRA, 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 EUR 923,247,678 (such amount is based on the volume-weighted average price of one Stellantis common share on the regulated market of Euronext in Milan over the last five trading days).
This purchase of Stellantis common shares by Stellantis from GM will be carried out under the authority granted by the general meeting of April 13, 2022.
