Peugeot and Dongfeng Motor Group to Establish Leasing JV in China
March 26 2018 - 6:33AM
Dow Jones News
By Max Bernhard
Peugeot SA (UG.FR) said Monday that it plans to establish a
leasing joint venture for the Chinese automotive market with
Dongfeng Motor Group Co. Ltd. (0489.HK).
Banque PSA Finance, Peugeot's finance unit, and Dongfeng Peugeot
Citroen Automobiles, Peugeot's joint venture with Dongfeng Motor
Group, signed an agreement to form a financial leasing joint
venture to offer long-term leasing solutions to Chinese customers,
said Peugeot.
The French car maker said Dongfeng Peugeot Citroen Automobiles
will hold 50% of the new leasing company's share equity, while
Dongfeng Motor Group and Banque PSA Finance will own 25%,
respectively.
The new company will be registered in the Wuhan economic and
technological development zone and be capitalized with 300 million
yuan ($47.5 million), Peugeot said.
Write to Max Bernhard at Max.Bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
March 26, 2018 06:18 ET (10:18 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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