Stellantis Repurchases $1.02 Bln Shares From Dongfeng Motor

Stellantis has bought back 50 million common shares from Dongfeng Motor International valued at 934 million euros ($1.02 billion).

The maker of Jeep, Dodge and a dozen other brands said late Wednesday that it will cancel the shares from the Hong Kong-based company, a subsidiary of China’s Dongfeng Motor Group Company. Stellantis has a joint venture with the parent company.