Chinese Dongfeng to buy shares of PSA
PSA Peugeot-Citro?n confirmed on Wednesday, February 19, the conclusion of an agreement with Dongfeng Motor Group.
The Dongfeng and the French government will invest approximately € 800 million each in the group. In exchange, they both receive 14% of the shares of PSA. The agreement provides for the joint creation of a new center for research and development, and the use of technologies developed by PSA and the development of a joint venture "to command sales of cars PSA Peugeot Citro?n and Dongfeng in the rest of Asia and possibly in other emerging markets. "
With the agreement, the hope is that the French group "breathe" after undergoing serious financial difficulties that nearly culminated in a bankruptcy filing.