Peugeot: completes sale of a stake in Faureciad
(CercleFinance.com) - Peugeot has announced the successful sale of 9.
663,000 Faurecia shares, representing approximately 7% of the automotive equipment manufacturer's capital, as part of a private placement through an accelerated bookbuilding process reserved for institutional investors.
Settlement and delivery is expected to take place on 2 November. Proceeds from the sale amount to approximately 308 million euros. Upon completion of the placement, the carmaker will still hold about 39% of Faurecia's share capital.
The proceeds from the sale will be distributed to Stellantis shareholders, together with a distribution in kind of the remaining 39% stake in Faurecia, as announced on 14 September, shortly after the completion of the merger between Peugeot and Fiat Chrysler.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
663,000 Faurecia shares, representing approximately 7% of the automotive equipment manufacturer's capital, as part of a private placement through an accelerated bookbuilding process reserved for institutional investors.
Settlement and delivery is expected to take place on 2 November. Proceeds from the sale amount to approximately 308 million euros. Upon completion of the placement, the carmaker will still hold about 39% of Faurecia's share capital.
The proceeds from the sale will be distributed to Stellantis shareholders, together with a distribution in kind of the remaining 39% stake in Faurecia, as announced on 14 September, shortly after the completion of the merger between Peugeot and Fiat Chrysler.
Copyright (c) 2020 CercleFinance.com. All rights reserved.