SpyLOG
16/4/2014 17:49
RIA Novosti

Business

Peugeot in Talks With RZD Over Logistics Arm

Russian Railways (RZD)
12:06 20/09/2012
MOSCOW, 20 September (RIA Novosti)
Tags: PSA Peugeot-Citroen, GEFCO, Russian Railways

French automaker PSA Peugeot-Citroen is in exclusive talks with Russian Railways (RZD) to sell a majority stake in its GEFCO logistics subsidiary, in a deal which could be worth 800 million euros, the car giant said on Thursday.

The French group confirmed in a press release it is offering RZD the chance to acquire a 75 percent stake in GEFCO, one of Europe’s largest logistics companies.

Russian Railways confirmed “the decision to launch exclusive talks had been taken” after the Peugeot-Citroen board ruled “RZD had put in the best offer.”

The sale comes as part of PSA Peugeot-Citroen’s broader sell-off strategy, the company says.

To be finalized, the deal needs to comply with international antimonopoly regulations.

Russian Railways says in intends keep GEFCO’s management and current operational structure.

The Russian rail giant believes the deal will boost Europe-Asia transcontinental goods traffic, an area in which it has invested heavily and sees as a priority.

 

  • Add to blog
  • Send to friend
  • Share

Add to blog

You may place this material on your blog by copying the link.

Publication code:

Preview:

RIA NovostiRussian Railways (RZD)Peugeot in Talks With RZD Over Logistics Arm

12:06 20/09/2012 French automaker PSA Peugeot-Citroen is in exclusive talks with Russian Railways (RZD) to sell a majority stake in its GEFCO logistics subsidiary, in a deal which could be worth 800 million euros, the car giant said on Thursday.>>

Send by e-mail

All fields are required!



Leave a comment

    Рейтинг@Mail.ru  Rambler's Top100
    © 2014  RIA Novosti
    Some material may be inappropriate for those under 18