Banque PSA attracts European heavyweights
Banque PSA may be a target for Santander as the Spanish bank mulls taking a 50% stake in the French finance provider, a newswire report said on 18 October.
The possible sale of part of Banque PSA, worth an estimated EUR 3bn, by PSA Peugeot Citroen is part of the car maker’s ‘plan B’, being drawn up in case plans to sell a 20-30% stake to Dongfeng of China fall through, the Reuters report said.
Besides Santander, other major European financial players are looking at acquiring part of Banque PSA including UniCredit and Commerzbank (the German business), Lloyds (the UK business) and Credit Agricole (the French unit), the report said, citing people familiar with the situation.
Source Newswire Round-up