On October 29, PSA announced that the group had successfully sold 9663,000 Faurecia shares held by it through an accelerated bookkeeping file-building model, which accounted for approximately 7% of Faurecia’s share capital. After the transaction is completed, PSA Group will hold 39% of Faurecia's equity. The settlement and delivery of this transaction is expected to take place on November 2, 2020, and the cash proceeds from the sale of Faurecia’s shares are expected to be distributed to the shareholders of the Stellattis Group.
It is also understood that the remaining 39% of Faurecia's shares held by PSA will also be immediately distributed to all shareholders of the new group after the merger transaction is completed and after the approval of the board of directors and shareholders of the new group. PSA Group has approved a 90-day lock-up period for bookkeepers, with the exception of certain common exceptions (including the aforementioned share allocation).