PSA Peugeot Citroën and JSC Russian Railways (RZD) Complete the Acquisition
by RZD of 75% interest in GEFCO
PARIS -- December 20, 2012
PSA Peugeot Citroën (Paris:UG) announced today the completion of the sale of
shares representing 75% of the capital and voting rights of PSA’s subsidiary,
GEFCO S.A., to JSC Russian Railways (RZD), in accordance with the agreement
signed on November, 5^th, 2012.
PSA Peugeot Citroën sold a 75% interest in GEFCO to RZD for €800 million,
after the payment by GEFCO to PSA Peugeot Citroën of special dividend of €100
With RZD, Gefco will further enhance its geographic expansion strategy in
China, India and Latin America, but also accelerate its growth in Eastern and
Central Europe, particularly in Russia. RZD and Gefco will propose unrivalled
logistics services between Europe and Asia by combining the strengths of the
two groups. The new entity will become a global leader in diversified
industrial supply chain logistics.
RZD intends to retain the management of Gefco and all of its existing business
units, including those engaged in providing services to PSA Peugeot Citroen.
The protection of the sustained quality of the logistics services provided by
GEFCO to PSA Peugeot Citroën as well as the protection of both parties
interests is guaranteed through a shareholders’ agreement between PSA Peugeot
Citroën and RZD.
The transaction received a positive opinion by the Works Councils of PSA
Peugeot Citroën and Gefco SA.
PSA Peugeot Citroën
With its two world-renowned brands, Peugeot and Citroën, PSA Peugeot Citroën
sold 3.5million vehicles worldwide in 2011, of which 42% outside Europe. The
second largest carmaker in Europe, it generated revenue of €59.9 billion
during the year. PSA Peugeot Citroën has sales operations in 160 countries. In
2011, it allocated more than €2 billion to research and development, in
particular in the field of new automotive propulsion technologies. PSA Peugeot
Citroën is also involved in financing activities (Banque PSA Finance),
logistics (GEFCO) and automotive equipment (Faurecia).
For more information, please visit www.psa-peugeot-citroen.com
JSC Russian Railways (RZD)
RZD is Russia’s national rail operator and one of the country's largest
companies, employing 1.2 million people. It has an extensive portfolio of
businesses, mainly in the areas of goods and passenger transport, and in
container shipping and logistics through its subsidiary Transcontainer. The
company is wholly-owned by the Russian Federation. In the twelve months ended
31 December 2011, it reported revenues of some €36.1bn billion and net income
of €4.5 billion.
RZD has devised an ambitious growth strategy for the coming years, targeting
industry and markets outside Russia. Outside Russia, the company is continuing
to focus on developing international freight corridors in order to offer a
competitive goods transport network on major routes, such as the
Trans-Siberian line between Asia and Europe.
Communications Department - 75 avenue de la Grande Armée - 75116 Paris
Telephone (33 1) 40 66 42 00 - Fax (33 1) 45 00 54 52 –
Jean-Baptiste Thomas, +33 (0) 1 40 66 47 59
Pierre-Olivier Salmon, +33 (0) 1 40 66 49 94
Cécile Damide, +33 (0) 1 40 66 53 89
Jean-Baptiste Mounier, +33 (0) 1 40 66 54 22
Carole Dupont-Pietri, +33 (0) 1 40 66 42 59
Olivier Sartoris, +33 (0) 1 40 66 43 65
Christophe Fournier, +33 (0) 1 40 66 57 45
Céline Jamet, +33 (0) 1 40 66 48 52
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