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Dongfeng Shares Suspended From Trading Ahead of Peugeot Vote

Dongfeng Peugeot-Citroen Automobile
A Citroen C4 Aircross vehicle manufactured by Dongfeng Peugeot-Citroen Automobile Ltd., the joint venture between Dongfeng Motor Corp. and PSA Peugeot Citroen, stands on display at the Wuhan Motor Show 2013 in Wuhan. Photographer: Tomohiro Ohsumi/Bloomberg

Feb. 18 (Bloomberg) -- Dongfeng Motor Group Co., the Chinese carmaker in talks to buy a stake in PSA Peugeot Citroen, had its shares halted from trading in Hong Kong as the French automaker prepares to vote on the deal.

When asked whether the suspension is related to Peugeot and whether an announcement will come out tomorrow, Dongfeng spokesman Zhou Mi said yes in a text message, without elaborating.

The board of Europe’s second-largest carmaker will meet today to vote on an agreement that Peugeot has said would raise 3 billion euros ($4.1 billion). Under the plan, the French government, Dongfeng and the Peugeot family would end up with roughly equal stakes.

Dongfeng shares were suspended from trading before the market open today. They fell 1.6 percent to HK$10.96 yesterday.

To contact Bloomberg News staff for this story: Tian Ying in Beijing at ytian@bloomberg.net

To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net

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