Beijing Business Daily (Reporter Liu Yang and Liu Xiaomeng) On November 22nd local time, Stellantis Group announced that the company and Dongfeng Motor (Hong Kong) International Co., Ltd., a subsidiary of Dongfeng Motor Group Co., Ltd., have confirmed that they have executed a transaction. Stellantis Group repurchased 50 million ordinary shares (1.58% of Stellantis' share capital before cancellation) from Dongfeng Motor Co., Ltd. for a total consideration of 934 million euros. Stellantis Group plans to cancel the aforementioned shares.
Dongfeng Company will retain 49.2 million ordinary shares, accounting for 1.58% of Stellantis Group's share capital after cancellation. The stock repurchase framework agreed upon by both parties remains valid. Stellantis Group stated that the stock repurchase transaction with Dongfeng Company will not affect its announced € 1.5 billion public market stock repurchase plan on February 22 of this year, which is expected to be completed by the end of this year.