DNFGY Dongfeng Motor Group Company Ltd (PK)

   By Max Bernhard 
 

Peugeot SA (UG.FR) said Monday that it plans to establish a leasing joint venture for the Chinese automotive market with Dongfeng Motor Group Co. Ltd. (0489.HK).

Banque PSA Finance, Peugeot's finance unit, and Dongfeng Peugeot Citroen Automobiles, Peugeot's joint venture with Dongfeng Motor Group, signed an agreement to form a financial leasing joint venture to offer long-term leasing solutions to Chinese customers, said Peugeot.

The French car maker said Dongfeng Peugeot Citroen Automobiles will hold 50% of the new leasing company's share equity, while Dongfeng Motor Group and Banque PSA Finance will own 25%, respectively.

The new company will be registered in the Wuhan economic and technological development zone and be capitalized with 300 million yuan ($47.5 million), Peugeot said.

Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

March 26, 2018 06:18 ET (10:18 GMT)

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