Dongfeng seals €830m acquisition finance

Dongfeng peugeot citroen
By Rashmi Kumar
03 Apr 2014

China’s Dongfeng Motor Corp, which said in February that it was acquiring a 14% stake in French company Peugeot Citroën, has signed a €830m ($1.14bn) club loan to fund the acquisition, according to bankers.

Five banks — Bank of China, BNP Paribas, HSBC, Industrial and Commercial Bank of China (Asia) and Société Générale — provided the funds. 

The loan will be used by Dongfeng, a state-owned Chinese automaker, to fund the purchase of shares in French group Peugeot. The two companies announced ...

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