Peugeot Family to Discuss PSA Stake

Peugeot family members intend to meet in June to decide the future of their 14.1% stake in PSA Peugeot Citroen, according to Les Echos.

The Peugeot family's control over PSA evaporated last year when the company raised €3 billion in desperately needed capital by selling equal 14.1% stakes to Chinese partner Dongfeng Motor Corp. and the French government.

Les Echos says the June meeting will pit a family faction led by senior member Thierry Peugeot, who was forced off the PSA board after opposing the equity sale, and Robert Peugeot, who sits on the board and reportedly may want to further reduce the family's stake.

Those backing Thierry Peugeot hope to pass a resolution prohibiting a cut in the family's holding, according to the newspaper. It says the family also may discuss options if the French government decided to shed some of its equity in PSA.