Today 12/10/2013 - 05:39:19 PM
Peugeot SA 11.610€
CAC 40 -5.11 PTS
PSA Peugeot Citroën announces that it has entered into exclusive negotiations with JSC Russian Railways (RZD) to form a strategic partnership to drive faster growth for GEFCO. The implementation of this strategic partnership would enable GEFCO to step up its growth by combining its strengths with those of JSC Russian Railways (RZD). The transaction follows on from GEFCO's early 2012 signature of an exclusive long-term logistics contract with PSA Peugeot Citroën's Automotive Division and a similar contract with General Motors Europe in July 2012.
GEFCO, thanks to this transaction, would further enhance its geographic expansion strategy in China, India and Latin America, but also accelerate its growth in Eastern and Central Europe, particularly in Russia. RZD and GEFCO would propose unrivalled logistics services between Europe and Asia.
The proposed partnership would also allow GEFCO to diversify its business base and contribute to the growth of its turnover, thereby creating a global leader in diversified industrial supply chain logistics.
For GEFCO employees, this business development would drive strong growth in their operations in the years to come. The management team would not be changed, with Luc Nadal continuing to serve as President and the head office remaining in France.
PSA Peugeot Citroën would sell a 75% interest in GEFCO for €800 million, after the payment by GEFCO to PSA Peugeot Citroën of €100 million in a special dividend.
A shareholders agreement would ensure the protection of both parties interests as well as the sustained quality of the logistics services provided by GEFCO to the Group.
PSA Peugeot Citroën and GEFCO will initiate an information and consultation process with their works councils concerning the Offer. The proposed transaction will be subject to antitrust clearance in certain jurisdictions.