General Motors: stock purchase agreement with Stellantis
(CercleFinance.com) - Stellantis and General Motors Holding, a subsidiary of General Motors Company (GM), have signed a securities repurchase agreement relating to the 69.
1 million shares of Stellantis common stock, i.e. approximately 2.2% of Stellantis' share capital (on a fully diluted basis), that GM is entitled to subscribe for upon exercise of warrants initially issued by Peugeot SA (PSA) to GM in 2017.
The Warrants were issued to GM in connection with PSA's acquisition of the Opel and Vauxhall automotive business. Upon their exercise, Stellantis will also deliver to GM approximately 1.2 million Faurecia common shares and an aggregate cash amount of approximately 130 million euros, representing the dividend entitlements paid by PSA and Stellantis.
The issuance and repurchase of the Stellantis common shares will both occur on 15 September. The total purchase price paid by Stellantis for the common shares will be 923,247,678 euros.
The purchase of the Stellantis ordinary shares by Stellantis from GM will be made under the authorisation granted by the general shareholder meeting on 13 April 2022.
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