HONG KONG: Chinese state-owned car maker Dongfeng said today it had sold around €600 million (US$710 million) in global auto giant Stellantis – the equivalent of a 1.15% stake.
In a statement to the Hong Kong stock exchange, Dongfeng said it had sold 36.1 million Stellantis shares priced at €16.65.
Stellantis is a US-European automaker that was formed in a merger between France’s Peugeot and the US-Italian company Fiat Chrysler earlier this year, with a stable that includes Alfa Romeo, Jeep and Maserati.
Dongfeng, headquartered in China’s central city of Wuhan, was a former investor of France’s Peugeot maker PSA and was required to sell the shares by the end of 2022 as part of the merger deal.
It still maintains around a 4.5% stake in Stellantis.
The statement did not say who had bought the shares offloaded by Dongfeng.