China's Dongfeng plans partial sale of PSA stake, Reuters has reported, citing sources. Re-read petesweeneypro's view on how Dongfeng Motor’s 2014 bailout of Peugeot looks more profitable than selling cars in China:
Fiat Chrysler and Peugeot owner PSA Group said on Oct. 31 they aimed to reach a binding deal to create a $50 billion group with listings in Paris, Milan and New York, and with PSA's Carlos Tavares as chief executive and FCA's John Elkann as chairman. Dongfeng Motor holds a 12.2% equity stake in Peugeot subject to a standstill agreement, the companies said.
In a television interview on Nov. 1, White House economic adviser Larry Kudlow said"we obviously are alert and on guard" regarding Dongfeng’s position in the transaction.
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