2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36
PSA Peugeot Citroen has raised fresh capital through the sale of stock options. The ailing automaker took 1.95 billion euros.
The ailing automaker PSA Peugeot Citroen is making headway with the capital increase. As the group announced on, it collected 1.95 billion euros through the sale of stock options. After the entry of the French state and the Chinese vehicle manufacturer Dongfeng, the group had started to strengthen its capital.
14 percent of the papers at Dongfeng
The French state and Dongfeng had already bought new shares for a total of a billion euros. They also participated now, in order to get around 14 percent of the papers in the end. The share of the founding family Peugeot falls to this value as a result of the capital increase, which was a good 25 percent before.
With the fresh billions, the new boss Carlos Tavares wants to free the group from its difficulties. PSA had lost more than seven billion euros in the past two years. The partnership with the second largest Chinese manufacturer Dongfeng is intended to give new momentum to business in China and Asia. (dpa)
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