3/19/2019

Peugeot Family Would Back More PSA Ventures

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PSA Group’s founding Peugeot family says it would support CEO Carlos Tavares in partnerships or another acquisition similar to Opel.

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PSA Group’s founding Peugeot family tells Les Echos it would support CEO Carlos Tavares in partnerships or another acquisition similar to Opel.

If the right opportunity arises, “ we will not be braking,” declares Robert Peugeot, who heads the company’s holding company. “Carlos knows that.”

Last month Tavares pointed to PSA €9 billion ($10.2 billion) cash trove and declared the company “open for discussion” about collaborations. Sources told Bloomberg News earlier this month that attractive prospects for partnerships are Fiat Chrysler Automobiles, General Motors and Jaguar Land Rover.

Robert Peugeot tells Les Echos that, with the right PSA deal, “the planets could be aligned.”