April 25, 2014 / 3:26 PM / 3 years ago

Peugeot shareholders back Dongfeng tie-up

A Peugeot logo is seen on a car which is displayed at PSA Peugeot Citroen headquarters in Paris April 14, 2014. REUTERS/Benoit Tessier

PARIS (Reuters) - Shareholders of PSA Peugeot Citroen (PEUP.PA) on Friday approved by a large majority the rescue deal that makes Chinese carmaker Dongfeng (0489.HK) and the French state core shareholders of the struggling French carmaker.

At the company’s annual general meeting, the investor base also voted to approve the appointment of board members representing the two parties, with 88 percent in favor.

They also backed a four-year mandate for Louis Gallois, the French civil servant who replaced Thierry Peugeot as chairman under the plan, with a 97 percent vote in favor.

Reporting by Andrew Callus; Editing by Geert De Clercq

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