Sources are telling Reuters that negotiations over a proposed $4.11 billion tie-up between Dongfeng Motors and PSA Peugeot Citroen, backed by the French national government, are going more slowly than the French automaker had hoped. PSA now hopes to have a non-binding deal with Dongfeng outlined by late November, a month later than it expected only a week ago. A final deal would be signed in early 2014. (Read More…)
Tag: banque psa
Europe’s second biggest automaker, PSA Peugeot Citroen, has gotten approval from the European Union for the French government to guarantee $9.28 billion (7 billion Euros) in bonds to provide Banque PSA Finance, the car maker’s finance arm, with funds so they can sell cars on credit at competitive interest rates.
After approving a $1.6 billion loan guarantee for PSA’s captive finance arm, the European Commission demanded a restructuring plan for all of PSA within six months.