Peugeot signs rescue deal with China's Dongfeng Motors
Struggling French carmaker PSA Peugeot Citroen has sealed a long-awaited rescue deal that will see its founding family cede control of the company.
China's Dongfeng Motors and the French government will each invest about 800m euros (£660m) in return for 14% stakes.
Another 1.4bn euros will be raised from existing investors in Peugeot.
The deal is still subject to a shareholder vote but will provide much-needed cash to keep Peugeot afloat after government guarantees expire.
Nigel Cassidy reports.
20 Feb 2014
- From the section Business