Date
20 October 2017

Dongfeng, France to take minority stakes in Peugeot, WSJ says

The board of PSA Peugeot Citroën has approved Dongfeng Motor Co.’s offer to pay €800 million (US$1.1 billion) for a 14 percent stake in the ailing French carmaker, the Wall Street Journal reported Tuesday, citing people familiar with the matter. The French state will also inject the same amount of capital for a 14 percent minority interest, the report said. The Chinese car company will play a major role in Peugeot’s new industrial and commercial plan for Southeast Asia and other fast-developing countries, it said.

– Contact HKEJ at [email protected]

RA/SK

 

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