PSA is now officially Franco-Chinese
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  1. #1
    1000+ Posts gerry freed's Avatar
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    Default PSA is now officially Franco-Chinese

    The agreement has been reached and PSA will have three major shareholders all with 14% - The Peugeot family, Dongfeng and the French State. The Peugeot family will no longer have control.
    The new CEO Carlos Tavares, ex No2 of Renault, takes over on March 31st. They still have not nominated a Chairman, independent of all three major shareholders.

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    The PSA group lost 2.3 billion euros in 2013 and had a net cash outflow of nearly half a billion. They don't expect to be cash flow positive now until 2016. The new shareholding structure will by various routes make available 3 billion euros to allow the situation to stabilise and to permit the new grouping to fund its market expansion.
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  2. #2
    the famous 18E pug206gti's Avatar
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    G'day,
    what about the other 58 % ?
    regards,
    Les W.


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  3. #3
    1000+ Posts gerry freed's Avatar
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    It's a public listed company and you can always buy a percentage on the market. In fact part of the restructuring will be done through the market. The shares as I write have opened at 13 euros this morning. Like Renault most of the ownership rests with institutional funds internationally.
    Last edited by gerry freed; 24th February 2014 at 10:46 AM.
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