Groupe PSA trims Faurecia stake on torrid day for stocks

Peugeot_PA_575_375
By Aidan Gregory
29 Oct 2020

Groupe Peugeot Société Anonyme, the French auto manufacturer, chose a tough day to launch a €308m sale of stock in car parts maker Faurecia. The sale is a key condition of the company's merger with Fiat Chrysler.

The CAC 40 and DAX both plummeted more than 4% on Wednesday as fresh lockdowns were imposed by the German and French governments, after a surge in coronavirus cases across the continent.

Peugeot announced its intention to dispose of the Faurecia shares early on Wednesday, before the scale ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial