Date
20 October 2017

Peugeot, Dongfeng Motor agree on share sale, website says

Dongfeng Motor Group Co. Ltd. (00489.HK) has reached a deal with PSA Peugeot Citroen to become a minority shareholder in the French carmaker, news website NetEase.com reported Thursday, citing newswires. Dongfeng and the French government will both buy Peugeot shares at a 40 percent discount. Peugeot will issue 3.5 billion euro (US$4.8 billion) worth of new shares, while Dongfeng and the French government will each acquire a 20 percent stake in Peugeot at less than 7 euro a share, compared with a Wednesday closing price of 11.5 euro, sources at a PSA board meeting said.

– Contact HKEJ at [email protected]

EL/AC/SK

 

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