PSA to acquire Fiat’s stake in French plant

PSA/Peugeot-Citroen will acquire Fiat’s stake in their joint venture at the French car-maker’s factory in Sevelnord, northern France. The plant’s head announced a draft agreement which provides for the transfer of 50 per cent of shares owned by Fiat to...

PSA/Peugeot-Citroen will acquire Fiat’s stake in their joint venture at the French car-maker’s factory in Sevelnord, northern France. The plant’s head announced a draft agreement which provides for the transfer of 50 per cent of shares owned by Fiat to PSA Peugeot Citroen “no later than December 31, 2012”. Fiat has made clear it plans to exit the partnership, which makes light commercial vehicles. PSA produces the Peugeot 807 and Citroen C8 at the plant.

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