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Peugeot Plans to Stick to Policy of Maintaining Faurecia Holding

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Nov. 15 (Bloomberg) -- PSA Peugeot Citroen, which is seeking new partners as it burns through cash, hasn’t changed its policy toward its holding in auto-parts maker Faurecia.

Peugeot has repeatedly said in recent months that a sale of its 57 percent holding in Faurecia isn’t planned. Reuters reported today that the Paris-based carmaker is considering a sale and has hired an adviser to explore options, citing people with knowledge of the situation.

“We don’t comment on rumors,” Peugeot spokesman Jonathan Goodman said today by phone. “Our policy regarding Faurecia hasn’t changed.”

Peugeot is reviewing its strategic options including a deeper partnership with China’s Dongfeng Motor Corp. as it seeks to stem losses in Europe. Dongfeng and the French state are considering taking equal stakes in Peugeot as part of capital increase, people familiar with the situation told Bloomberg last month.

To contact the reporter on this story: Mathieu Rosemain in Paris at mrosemain@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net

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