Peugeot shareholding may not be resolved until late January The exact picture of shareholding reshuffles at French car giant Peugeot Citroen [EPA:UG] is unlikely to be clarified until a good month into 2014, according to the Journal du Dimanche. An unsourced item in the French-language weekly noted that with General Motors last week pulling out of its holding in the automaker, the subsequent actions by the Peugeot family and Chinese counterpart Dongfeng may not come about until shortly before Peugeot makes public its accounts for the year in February.
Without sourcing the projections, the JDD noted that between them the French state and the Wuhan-based automotive group could end up with a 50% holding.
The Peugeot descendants today hold a 38% of voting rights and 25% of tshares, the JDD noted. Those percentages could fall to 15% and 12%, the item noted , suggesting the French authorities are keen on such an outcome. Again without sourcing, the item noted that the group could turn to the markets for further capital. It could also call on the family to kick in up to EUR 250m into company coffers.
Michigan based GM on Thursday announced the intention to sell its entire 7% stake in PSA Peugeot Citroen through a private placement, as reported. The US company netted EUR 250m from the divestment, as reported.
Source Journal du Dimanche