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Peugeot Family Confirms Interest in Hiking PSA Stake
The Peugeot family tells Les Echos it is ready to raise its 14% stake in PSA Group.
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The Peugeot family tells Les Echos it is ready to raise its 14% stake in PSA Group. A source told Reuters in late May the company had signaled interest in increasing its investment.
The founding family agreed in 2014 to dilute its equity to help avert a company bankruptcy. At the time, the French government and China’s Dongfeng Motor Group Co. each bought 14% stakes in PSA in a cash infusion deal worth €3 billion.
The state has since signaled an interest in selling some or all of its 14% stake, which has doubled in value in two years. Thierry Peugeot, who opposed the bailout and was forced off the PSA board, says many members of the family are now ready to “move decisively” to strengthen the family’s holding.
But Robert Peugeot, who runs the family’s main holding company, cautions that “We don’t have unlimited resources,” Les Echos reports.
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