Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data