WOVOW - Chinese Gadgets Reviews and Deals
No Result
View All Result
  • Coupons
  • Promotions
  • Our reviews
  • Reviews
  • Leaks
  • Phones
  • Wearable
  • Hi-tech
    • Tablets
    • Projectors
    • TVs
    • Notebooks
    • Cameras
    • Drones
  • Support Us
  • Coupons
  • Promotions
  • Our reviews
  • Reviews
  • Leaks
  • Phones
  • Wearable
  • Hi-tech
    • Tablets
    • Projectors
    • TVs
    • Notebooks
    • Cameras
    • Drones
  • Support Us
No Result
View All Result
WOVOW - Chinese Gadgets Reviews and Deals
No Result
View All Result
Home Cars

China and France have reached out to PSA

by James Weir
2014/02/20
in Cars, HOME
Reading Time: 1 min read
0
0
SHARES
19
VIEWS
Share on FacebookShare on Twitter

Almost one third of the shares Peugeot Citroen enters into new hands

The second largest automaker in Europe, PSA Peugeot Citroën will receive solid financial assistance in exchange for large stakes. According to Reuters, a tripartite agreement was signed by the Government of France, PSA leadership and the Chinese company Dongfeng, which had previously expressed the intention to co-Peugeot Citroen.

Under the agreement, Chinese and French sides depart equal 14%-s shares, each of which will cost 800 million euros ($ 1.1 billion). Another € 1.4 billion will be drawn through the issuance of additional shares. All of these funds will be used primarily to repay most of high-grade credits, as well as to finance the development of new vehicles.

The signing of this agreement marks the first time during the existence of PSA control over it loses Peugeot family. Its share will be reduced from the current 25% to 14%, so that none of the parties will not be able to lobby for important decisions alone. According to unofficial information, the chairman Thierry Peugeot Citroen Peugeot intends to resign in protest against the decision.

Recall that the financial situation of one of the world’s largest automakers seriously undermined European recession. In 2012, the loss of PSA almost reached 5 billion euros in 2013 exceeded 2 billion euros. Attempt to establish an alliance with General Motors failed and was terminated in December last year. In these circumstances, support from the Asian markets, the yield on which helps provide Dongfeng, may be life-saving for the French.

Tags: autoChinaCitroenmergers and acquisitionsPeugeot
ShareTweetPin

Related Posts

Xiaomi Redmi Note 4 review new smartphone from China
Hi-tech

Xiaomi Redmi Note 4 review new smartphone from China

2016/09/16
Review Ulefone U007: smartphone in style of Bond
Hi-tech

Review Ulefone U007: smartphone in style of Bond

2016/06/25
LG G5 SE will be a light version LG G5 for the CIS, China and Latin America
Hi-tech

LG G5 SE will be a light version LG G5 for the CIS, China and Latin America

2016/04/13
Leave Comment

POPULAR THIS WEEK

Xiaomi AC2100 Mi Router REVIEW In-Depth: Why Is This a Gaming Router?

Xiaomi AC2100 Mi Router REVIEW In-Depth: Why Is This a Gaming Router?

2020/04/25
Xiaomi Wanbo T2 Free First REVIEW: $85 Full HD Portable Projector

Xiaomi Wanbo T2 Free First REVIEW: $85 Full HD Portable Projector

2020/06/21
Ulefone Armor 9E First REVIEW: Endoscope? Really?

Ulefone Armor 9E First REVIEW: Endoscope? Really?

2020/09/02
Xiaomi AC2100 First REVIEW: 2019 Powerful Gaming Router

Xiaomi AC2100 First REVIEW: 2019 Powerful Gaming Router

2019/09/26
  • Home
  • Sitemap
  • Contact
  • About us

©2020 WOVOW.org | All rights reserved.

No Result
View All Result
  • Coupons
  • Promotions
  • Our reviews
  • Reviews
  • Leaks
  • Phones
  • Wearable
  • Hi-tech
    • Tablets
    • Projectors
    • TVs
    • Notebooks
    • Cameras
    • Drones
  • Support Us

© WOVOW.org | All rights reserved.

Posting....