43317
Peugeot Family Considers Raising Stake
Economy, Auto

Peugeot Family Considers Raising Stake

France’s Peugeot family is ready to consider raising its stake in PSA Group, the carmaker it controlled until a government-backed bailout in 2014, former chairman, Thierry Peugeot, and other members of the founding clan said.
“We can make the effort,” Thierry Peugeot told the Les Echos business daily. “We should move decisively; there are a lot of us who think the same way.”
The French state and China’s Dongfeng Motor each took 14% stakes in PSA in a €3 billion capital increase in 2014, diluting the Peugeots’ holding to the same level and ending family control of the carmaker as it teetered close to bankruptcy.
Two years into the company’s ebullient recovery under new PSA chief executive, Carlos Tavares, the government is now considering the sale of all or part of its stake, officials say.
However, Thierry’s cousin Robert Peugeot, who heads the main family holding company, sounded a more prudent note in the joint interview while maintaining that the family was “open” to making a new investment.
“We don’t have unlimited resources,” he told Les Echos in a rare group interview.
Thierry Peugeot was forced off PSA’s board after voicing public dissent over the French government gaining a stake in the automaker. He wanted PSA to raise money by selling shares on the market.

 

Short URL : http://goo.gl/6OmLSy
  1. http://goo.gl/HxLngi
  • http://goo.gl/opPnkZ
  • http://goo.gl/l72NVH
  • http://goo.gl/Uttcmk
  • http://goo.gl/sVBsW5

You can also read ...

Turkey Determined to Protect Companies From US Sanctions
Turkey will take every initiative to protect its companies...
Westminster Group Hopeful Over Iran Airport Security Deal
UK-based company Westminster Group PLC is still hopeful it can...
Further Hike in Unified USD Rate
The Central Bank of Iran has increased the US dollar's...
Tesla’s Gigafactory in Nevada, the US
Tesla Inc has flown six planes full of robots and equipment...
Head of Sistan-Baluchestan’s Ports and Maritime Organization Behrouz Aghaei (L) shakes hands with Managing Director of Life Trade Promotion Company Mohammad Arazesh after signing the agreement on May 23.
Life Trade Promotion Company signed an agreement with Sistan-...
Iran’s 65-and-over population is projected to rise to make up 11% of the total population in 2036-37.
Iran’s population will get increasingly older over the next...
Fiat Chrysler Recalls 4.8m Vehicles
Fiat Chrysler is warning the owners of approximately 4.8...
About 60% of the total volume of NPLs in Iran are considered irrecoverable.
Iranian banks and credit institutions held a total of about 1....

Trending

Googleplus