Reuters logo
4 years ago
France mulls taking stake in Peugeot -paper
February 8, 2013 / 6:46 AM / 4 years ago

France mulls taking stake in Peugeot -paper

1 Min Read

PARIS, Feb 8 (Reuters) - The French state is examining the possibility of taking a stake in struggling carmaker PSA Peugeot Citroen, French daily Liberation reported on Friday, citing unnamed sources.

The newspaper said this was being treated as a "last-resort" plan in case Peugeot found itself unable to stem widening losses. It cited one government source as saying the state could take part in a capital increase if it became necessary.

Peugeot declined to comment.

On Thursday, the company slashed the book value of its plants and other automotive assets by 28 percent, in a writedown adding 4.13 billion euros ($5.53 billion) to its 2012 net loss to reflect Europe's worsening market outlook.

Last October, the French state said it would offer 7 billion euros of state loan guarantees to the company's financial arm, Banque PSA Finance. (Reporting by Alice Cannet; Editing by Lionel Laurent)

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