Peugeot family aims to quickly raise PSA-Fiat Chrysler stake: newspaper interview
JANUARY 12, 2020
PARIS (Reuters) - The Peugeot family, which will own a 6.2% stake in the new carmaker resulting from PSA (PEUP.PA) and Fiat Chrysler’s (FCHA.MI) merger, aims to increase its holding as soon as possible, a representative said in a newspaper interview.
PSA and Fiat Chrysler reached a binding agreement last month on a $50 billion tie-up that will create the world’s No. 4 carmaker after the deal is completed in 12-15 months.
Under the terms of the deal, the Peugeot family can increase its shareholding by up to 2.5% only by acquiring shares from French state investment bank Bpifrance Participations and China’s Dongfeng Motors, which are both also PSA shareholders.
Asked by regional French newspaper L’Est Republicain if raising the stake was a major objective, Jean-Philippe Peugeot, who heads the family’s Etablissements Peugeot Freres holding company, replied that it was.
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