When the regional daily asked the family whether the possibility of acquiring this additional 2.5% in the next seven or eight years constituted for them a “major objective”, Jean-Philippe Peugeot, the CEO of Établissements Peugeot Frères ( EPF), replies in the affirmative.
“To obtain this possibility, the negotiations were complex. It was not won in advance,” said the representative of the holding company leading the Peugeot family, adding: “As soon as we are certain that the merger will go when my family is finished, it will give favorable signals, “he adds.
As for the French State, shareholder of the new group via its financial arm Bpifrance, “my family thanks him for being there, in 2013-2014, when PSA was in difficulty, but it has no vocation, I think, to be eternally present, “says Jean-Philippe Peugeot, estimating that” it will undoubtedly remain in the capital the time to ensure that employment will be durably preserved “.
PSA and Fiat Chrysler get married
The French manufacturers PSA and Italian-American Fiat Chrysler (FCA) announced in mid-December the signing of their marriage contract, to form the number four in the sector. The top three, in number of vehicles sold, today includes German group Volkswagen, the Franco-Japanese alliance Renault-Nissan-Mitsubishi and the Japanese Toyota.
Currently, Bpifrance, the Peugeot family and the Chinese Dongfeng are shareholders with 12.23% of PSA. After the 50/50 merger, their stake will be cut in half, as will that of the main shareholder of Fiat Chrysler Automobiles (FCA), Exor, the holding company of the Agnelli-Elkann family, which will drop to 14%. Clauses stipulate that the Peugeot family may increase its stake in the new entity by 2.5% and that BpiFrance may sell 2.5%.