PSA Peugeot Citroen could take up to 50% of Mitsubishi

PSA Peugeot Citroen could take up to 50% of Mitsubishi

PSA and Mitsubishi discuss the extension of a partnership between the two companies, which could lead to the assumption by France of a holding of 30% -50% in Japanese car manufacturer, according to Mediafax.

Peugeot has confirmed that it has begun talks with Mitsubishi Motors on "extending the relationship between the two companies, which could lead to a strategic partnership, according to a press statement given today by company officials.

"It is true that we discuss several possibilities, including taking ownership," said Tetsuji Inoue, spokesman for Mitsubishi Motors.

Thus, PSA Peugeot Citroen, the second largest car manufacturer in Europe, could take up to 50% of Mitsubishi Motors for 300 billion yen (3.4 billion U.S. dollars), the Japanese company shares advancing by 22% following information appears in the publication Nikkei Business.

PSA Peugeot Citroen and Mitsubishi have already a successful collaboration in three areas, namely the development of the 4x4 (Peugeot 4007 and Citroen C-Crossver based on the Mitsubishi Outlander), electrical machinery production (ion Peugeot, Citroen C-based Mitsubishi Zero and MiEV) and a joint venture in Russia.

Mitsubishi, number seven among the eight Japanese auto producers, desperately needs a strategic partner after failure of a partnership with DaimlerChrysler Group in 2005.

Source: http://www.mitsubishicars.com/


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