Automotive

Stellantis Buys Back Stock

This feels like a really expensive way to tell somebody you aren't friends anymore.
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Stellantis Buys Back Stock

Stellantis is buying back some of itself from GM. A $920M deal between the companies will return 69.1 million common shares or 2.2% of the company's share capital to Stellantis.

Sweeten the deal. In addition to the cash payment, GM will receive 1.2 million shares of part maker Faurecia SE and about 130 million euros for rights to dividends paid by Peugeot and Stellantis.

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