Pursuant to terms of the Share Repurchase Agreement signed on 17 December 2019 and the decision of the Supervisory Board on 14 September 2020, DFG has sold to Groupe PSA 10 million common shares of Peugeot S.A. representing approximately 1,10% of the share capital of the company.
These shares are acquired by Groupe PSA on 23 September through an off-market transaction at a price of €16.385 per share which represents a total purchase price of €163,850,000 (excluding costs) and will be cancelled after the settlement-delivery of the transaction that will take place on 25 September 2020, in accordance with the Groupe PSA share buyback program.
This transaction is consistent with the announcement made on 18 December 2019 concerning the contemplated combination of Peugeot S.A. and Fiat Chrysler Automobiles N.V., which will entail the creation of STELLANTIS, the 4th largest global OEM by volume in an automotive industry undergoing fundamental changes.
Subject to final approval by the Board of DFG, Groupe PSA and DFG have also agreed to amend the Share Repurchase Agreement signed on 17 December 2019 to provide that the additional 20.7 million shares covered by such agreement will have to be sold by DFG to one or several third parties, in one or several transactions by the end of 2022 in the event DFG has not sold those shares to Groupe PSA or to one or several third parties before 31 December 2020.
SOURCE: Groupe PSA