Final Agreements Between PSA Peugeot Citroën, Dongfeng Motor Group, the...

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Signature at the Elysée Palace
26/03/2014 | Paris
  • Strengthening and deepening the existing manufacturing and sales partnership with Dongfeng Motor Group (DFG)
  • Manufacturing synergies estimated at around €400 million a year for PSA Peugeot Citroën in 2020
  • Share and rights issues totalling €3 billion, of which €800 million taken up by DFG and €800 million by the French State
  • Share warrants granted without consideration to existing shareholders
  • A balanced shareholder structure for Peugeot SA, with the French State, the family-owned Etablissements Peugeot Frères and FFP and DFG each owning 14%.

In Paris today, Pierre Moscovici, France's Minister of Economy and Finance, Philippe Varin, Chairman of the PSA Peugeot Citroën Managing Board, Xu Ping, Chairman of the Board of Directors of DFG, Robert Peugeot, Chairman and Chief Executive Officer of FFP and Jean-Philippe Peugeot, Chairman and Chief Executive Officer of Etablissements Peugeot Frères, signed the final agreements concerning the share and rights issues announced last 19 February.

The ceremony was attended by Xi Jinping, President of the People's Republic of Chine and François Hollande, President of France.

Capitalising on the success of their cooperation initiated more than 20 years ago, PSA Peugeot Citroën and DFG today opened a new phase with the signature of the final agreement concerning their strategic manufacturing and sales partnership.

This strategic partnership covers three aspects:

  • Increasing output at DPCA, the Wuhan-based joint venture created in China by DFG and PSA Peugeot Citroën, with the objective of producing and selling 1.5 million vehicles per year in 2020.
  • Creating a joint R&D centre in China, dedicated to the development of products and technologies for fast-growing markets, including China,
  • Creating a new joint venture to drive the sales of Peugeot, Citroën and Feng Shen (DPCA own brand)-branded vehicles in South-east Asia and possibly in other emerging markets.

Thanks to this partnership, PSA Peugeot Citroën and DFG estimate that they will each be able to generate around €400 million in manufacturing synergies a year in 2020.

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Final Agreements Between PSA Peugeot Citroën, Dongfeng Motor Group, the French State, EPF and FFP (115 Ko)
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