Chinese Dongfeng to buy shares of PSA

Chinese Dongfeng to buy shares of PSA

PSA Peugeot-Citro?n confirmed on Wednesday, February 19, the conclusion of an agreement with Dongfeng Motor Group.

The Dongfeng and the French government will invest approximately € 800 million each in the group. In exchange, they both receive 14% of the shares of PSA. The agreement provides for the joint creation of a new center for research and development, and the use of technologies developed by PSA and the development of a joint venture "to command sales of cars PSA Peugeot Citro?n and Dongfeng in the rest of Asia and possibly in other emerging markets. "

With the agreement, the hope is that the French group "breathe" after undergoing serious financial difficulties that nearly culminated in a bankruptcy filing.

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