CRI听力:Peugeot Signs Rescue Deal with Dongfeng Motor
Shares of Dongfeng Motors are set to open trading in Hong Kong later this morning following yesterday's announcement, which has seen the Chinese Automaker agree to a major investment in French automaker Peugeot Citroen.
As part of the dead, Dongfeng and the French government are investing a combined 800-million euros, or around 1.1-billion US dollars into PSA.
Under the deal, this will give Dongfeng, the French government, and the Peugeot family equal 14-percent stakes in the company.
This means the Peugeot family's 200-year old hold on the company has evaporated, as it will no longer have a voting veto.
The deal will include a share transfer to both Dongfeng and the French government at an over 40-percent discount from Peugeot's current share price.
Dongfeng shares in Hong Kong closed down just over 1-percent on Wednesday as investors digested the impact of the deal.
For more on this, CRI's Shane Bigham spoke earlier with Cao Can, our financial commentator.
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