Chrysler-parent Stellantis said on Wednesday it has repurchased 50 million common shares from Dongfeng Motor (Hong Kong) International for about 934 million euros ($1.02 billion).
Stellantis, which has a joint venture with Dongfeng Motor in China, said it plans to cancel these shares and the transaction with Dongfeng would not impact its 1.5 billion euros open-market repurchase program.
The program, announced on Feb. 22, is expected to complete by the end of 2023.
Chinese automaker Dongfeng would retain 49.2 million common shares, which represents 1.58 per cent of Stellantis’ share capital post-cancellation.
($1 = 0.9168 euros)
Source: CNA
