Magna International on Wednesday said it had bought back 11,908,944 class A shares, or 9.2% of the total, at $US91.50 each for about $1.1bn.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


The company had earlier offered to buy up to $1,536,600,000’s worth in an offer that expired on 20 September.


Payment for these shares was made today, the Canadian-based automotive parts maker and contract vehicle developer and assembler said in a statement.


The purchase was funded from the proceeds of the sales of 20,000,000 class A shares in the plan of arrangement involving Russian Machines which closed on 20 September.


Magna completes stake sale to Russians

Just Auto Excellence Awards - Nominations Closed

Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Continental has secured the Window Displays Innovation Award in the 2025 Just Auto Excellence Awards for its Window Projection solution, transforming side windows into dynamic, data-rich canvases. Discover how this compact projection technology and intelligent software are reshaping in-car UX and opening fresh revenue streams for OEMs and mobility providers.

Discover the Impact