Magna International not interested in Peugeot's stake in Faurecia: CEO
TORONTO (Reuters) - Magna International Inc (MG.TO) is not looking at PSA Peugeot Citroen's (PEUP.PA) stake in auto parts maker Faurecia (EPED.PA), the chief executive officer told Reuters on Thursday.
"If you look at our history, we would consider looking at business units that we can buy and run and control and own," said CEO Don Walker. "They're talking about selling some shares in a public company. I don't know where the rumor came from, but it's not something we'd be looking at doing."
Reuters reported last week that PSA is mulling a possible sale of its 57 percent stake in Faurecia as part of negotiations with its existing Chinese partner, Dongfeng Motor Group, citing several sources with knowledge of the situation.
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