— The Peugeot family group increases its stake in Peugeot S.A. by 2%

The Peugeot family group increases its stake in Peugeot S.A. by 2%.

  09 December 2020
FFP communication
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The equity swap agreement signed with an investment services provider and announced on 9 March 2020 has been settled before its term. The total number of Peugeot S.A. shares acquired under this contract is 18.1 million, for a total amount of €228 million.

The shares acquired represent 2.0% of Peugeot S.A.'s share capital, in accordance with the authorisation provided for in the Combination Agreement signed between Peugeot S.A. and Fiat Chrysler Automobile N.V. on 18 December 2019.

All of the Peugeot S.A. shares in the Peugeot family group are now held by Maillot I, which is 76.5%-owned by FFP and 23.5%-owned by its majority shareholder Etablissements Peugeot Frères. It now holds 14.38% of the capital and 19.36% of the voting rights of Peugeot S.A..

This settlement comes in the context of the upcoming merger between Peugeot S.A. and Fiat Chrysler Automobiles, expected to take place after the general meetings of the two groups to be held on 4 January 2021.

Commenting on this transaction, Jean-Philippe Peugeot, Chairman of the Board of Etablissements Peugeot Frères, and Robert Peugeot, Chairman of the Board of FFP, declared: “The Peugeot family group, historical shareholder of PSA Group, is delighted to increase its stake in the capital. This transaction clearly demonstrates its commitment and desire to become one of the main shareholders of the future Stellantis Group and reflects its confidence in its future development.”
Bertrand Finet, CEO of FFP, added: “We seized the opportunity to strengthen our position in PSA under excellent conditions. We are pleased to participate even more in the future value creation of Stellantis.”