It's official --Chinese automaker Dongfeng has invested 800 million euros in struggling French automaker Peugeot Citroen. The investment gives Dongfeng about a 14% share of the automaker.
The transaction is the largest overseas investment by a Chinese state backed car maker. Dongfeng, the French government, and Peugeot will be equal stakeholders and each is expected to hold equal voting rights.
Dongfeng gains access to a well-known brand. For Peugeot, which lost 2.3 billion Euros last year, this is a welcome capital injection, it also means more opportunities in the world's biggest car market.
Source: CCTV
