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    489   CNE100000312

DONGFENG MOTOR GROUP COMPANY LIMITED

(489)
  Report
Delayed Hong Kong Stock Exchange  -  04:08 2022-09-26 am EDT
4.690 HKD   +0.64%
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Stellantis and Dongfeng Agree on a Share Repurchase Framework

07/18/2022 | 11:36am EDT

AMSTERDAM - Stellantis N.V. and Dongfeng Motor (Hong Kong) International Co., Limited, a subsidiary of Dongfeng Motor Group Company Limited ('Dongfeng') have executed a heads of agreement ('HOA') related to the 99.2 million common shares in Stellantis held by Dongfeng, representing 3.16% of Stellantis' share capital.

Under the HoA, Dongfeng may from time to time submit an offer to sell to Stellantis, all or a portion of the Stellantis common shares held by Dongfeng. Stellantis will have the right but not the obligation to accept such an offer and purchase the offered shares at the average of the closing prices per Stellantis share on Euronext Milan for the five trading day period immediately prior to the date on which Dongfeng submits the offer.

In case Dongfeng determines to dispose of any of its Stellantis common shares through an accelerated book build (ABB) process, Dongfeng will offer Stellantis the opportunity to act as a cornerstone investor in that transaction, at the offer price resulting from the ABB process.

Any purchase of Stellantis common shares by Stellantis from Dongfeng will be carried out under the authority granted by the general meeting of April 13, 2022, as possibly renewed or extended.

Stellantis will inform the market if it accepts an offer from Dongfeng and agrees to purchase the offered shares.

About Stellantis

Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world's leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today's customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroen, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves - aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.

Media

communications@stellantis.com

Fernao SILVEIRA

+31 6 43 25 43 41

fernao.silveira@stellantis.com

Valerie GILLOT

33 6 83 92 92 96

valerie.gillot@stellantis.com

Nathalie ROUSSEL

33 6 87 77 41 82

nathalie.roussel@stellantis.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
DONGFENG MOTOR GROUP COMPANY LIMITED 0.64% 4.69 Delayed Quote.-28.09%
STELLANTIS N.V. 1.91% 12.72 Delayed Quote.-25.19%
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Financials
Sales 2022 103 B 14 358 M 14 358 M
Net income 2022 11 056 M 1 548 M 1 548 M
Net cash 2022 8 542 M 1 196 M 1 196 M
P/E ratio 2022 3,36x
Yield 2022 9,24%
Capitalization 36 759 M 5 148 M 5 148 M
EV / Sales 2022 0,28x
EV / Sales 2023 0,26x
Nbr of Employees 122 061
Free-Float 30,3%
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 4,27 CNY
Average target price 6,28 CNY
Spread / Average Target 47,1%
EPS Revisions
Managers and Directors
Qing Yang President & Executive Director
Wei He Chairman-Supervisory Board
Yan Feng Zhu Chairman
Jun Yu Head-Organization & Information Department
Guo Yuan Liu Head-Technical Development Department
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