Santander expects car finance deal with Peugeot in 2015

MADRID Wed Feb 19, 2014 2:28am EST

MADRID Feb 19 (Reuters) - Spanish bank Santander expects a consumer financing deal with French carmaker PSA Peugeot Citroen to be completed in the second half of 2015, the bank said on Wednesday.

Santander said the deal, currently being negotiated, would cover 11 European countries and allow it to operate in new markets such as France, as well as strengthening its current position in other countries.

Peugeot announced exclusive talks between the two groups earlier on Wednesday.

"As an exception, in a few markets, Santander would buy part of the loan book currently owned by Bank PSA Finance," it said.

The agreement would take the shape of local partnerships and is subject to anti-trust authorisations. (Reporting by Elisabeth O'Leary; Editing by Mark Potter)

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