By on April 3, 2012

GM’s new partner PSA Peugeot Citroen needs more cash. To raise money, PSA sells its headquarters building in Paris and will turn into a renter. Signing GM as a new 7 percent partner apparently hasn’t improved PSA Peugeot Citroen’s cash position. Au contrair, PSA’s credit rating had gone to junk.

PSA told Reuters that it will sell its head office building in the fashionable 16th arrondissement in Paris to institutional fund manager Caisse de depot et placement du Quebec for 245.5 million euros ($326.54 million) as part of a property disposal plan announced in February.

The building is said to have 540,000 sq ft, PSA will lease back the high rent building under a renewable nine-year lease,.


Get the latest TTAC e-Newsletter!


2 Comments on “PSA Peugeot Citroen Liquidates Own Headquarters...”

  • avatar

    this kind of thing happens all the time. Its not clear what PSA’s lease payments are, but €240mm is a princely sum for an office building.

  • avatar

    I guess this has nothing to do with GM and the 7% stake. Sale & lease back is a very common practice of most corporations irrespective of their financial health, as besides serving to raise cash, it uses to have some fiscal benefits…

Back to TopLeave a Reply

You must be logged in to post a comment.

Recent Comments

  • iNeon: Kids in the Hall: Brain Candy has an *amazing* “I’m Gay!” musical number wherein the entire...
  • roger628: 02336/?ref_=nv_sr_4 I’m surprised everybody missed this one. Certainly...
  • sgtjmack: I’m actually glad that it is taking a long time and several meetings to make the changes to NAFTA....
  • sgtjmack: Well, here is what I know. Before MADE A, we had a pretty good trade position. When NAFTA was instated, the...
  • sgtjmack: So you think that because Trump doesn’t want to allow a country that wants to obliterate the U.S.A as...

New Car Research

Get a Free Dealer Quote


  • Contributors

  • Matthew Guy, Canada
  • Ronnie Schreiber, United States
  • Bozi Tatarevic, United States
  • Chris Tonn, United States
  • Corey Lewis, United States
  • Mark Baruth, United States
  • Moderators

  • Adam Tonge, United States
  • Corey Lewis, United States