By Pietro Lombardi

Stellantis NV said late Thursday that its shareholders will receive up to 54.3 million shares in French automotive supplier Faurecia SE and up to 308 million euros ($368.8 million) in cash.

Stellantis, which was created through the merger of Fiat Chrysler Automobiles NV and Peugeot SA, said that the cash component corresponds to the money that Peugeot SA got in October for the sale of a stake in Faurecia.

The distribution is for now conditional, as shareholders have to approve it at the March 8 extraordinary meeting.

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

(END) Dow Jones Newswires

March 05, 2021 01:13 ET (06:13 GMT)

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