Reuters logo
China's Dongfeng and Peugeot to agree on capital tie-up-source
February 18, 2014 / 2:00 AM / 4 years ago

China's Dongfeng and Peugeot to agree on capital tie-up-source

SHANGHAI, Feb 18 (Reuters) - China’s Dongfeng Motor Group Co Ltd and PSA Peugeot Citroen will sign a memorandum of understanding on a capital tie-up between the two carmakers later on Tuesday, a Dongfeng source told Reuters.

The source said the non-binding agreement would involve Dongfeng and the French government each injecting 800 million euros ($1.10 billion) for 14 percent stakes in the French carmaker.

The fundraising by PSA would total 3 billion euros after selling new shares to existing shareholders, said the source, who declined to be identified because the information is not yet public.

$1 = 0.7298 euros Reporting by Samuel Shen and Kazunori Takada; Editing by Paul Tait

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below