Peugeot S.A. (“Groupe PSA”) launches today the sale of 9,663,000 Faurecia shares, representing approximately 7% of Faurecia’s share capital, further to the press release published by Groupe PSA earlier today relating to the merger process between Fiat Chrysler Automobiles N.V. (“FCA”) and Groupe PSA.
The transaction will be conducted via an institutional private placement by way of an accelerated bookbuilding.
The bookbuilding will start immediately; the results of the placement will be announced after the close of the bookbuilding process.
The cash proceeds from this contemplated disposal are expected to be distributed to the Stellantis shareholders along with the distribution in kind of the remaining c. 39% stake in Faurecia, as already announced on 14th September 2020, promptly after the completion of the merger and subject to approval by the Stellantis Board and shareholders.
Groupe PSA has granted to the Bookrunners a 90-day lock-up, subject to certain usual exceptions (including the aforementionned distribution in kind).
The final terms of the Placement are expected to be announced on October 29, 2020 at the latest. The settlement and delivery of such sale is expected to occur on November 2, 2020.
Faurecia shares are listed on the regulated market of Euronext Paris (ISIN FR0000121147).
This press release does not constitute an offer to sell or a solicitation to buy any securities, and the offer of Faurecia shares by Groupe PSA does not constitute a public offering.
SOURCE: PSA Group
