Stellantis to spin-off 34% stake of Faurecia in a $371m deal.

Stellantis, a manufacturer and distributor od automobiles and commercial vehicles, is set to spin-off 34% stake of Faurecia, a company that operates in automotive seating, interior systems, cockpit electronics, and emissions control technologies, in a $371m deal. Generally, the ordinary shares of Faurecia are expected to be delivered to holders of Stellantis common shares entitled thereto on March 22, 2021.