FRANCE: PSA Peugeot Citroën quiet on Faurecia disposal speculation
PSA Peugeot Citroën and Faurecia are remaining tight-lipped concerning speculation the French automaker could dispose of part of its 57.4% stake in the supplier.
CM-CIC securities speculated today (7 January) PSA could evaluate a sale of its participation in the component maker, although Faurecia confined itself to noting to just-auto from Paris that: "Faurecia has no comments to make."
A PSA spokesman in the French capital also declined to comment on the conjecture, but did confirm to just-auto the automaker's share price had risen this afternoon by 5.18% to EUR6.50 (US$8.50).
PSA recently inked a contract with Russian Railways (RZD) with the train operator acquiring 75% of the vehicle manufacturer's logistics subsidiary, GEFCO, for EUR800m, that will be used to pay down the automaker's major debt.