PSA Peugeot Citroen to improve its competitiveness in Brazil
Regulatory News:
Following the signing of an European partnership agreement between Banque PSA Finance and Santander Consumer Finance, PSA Peugeot Citroën (Paris:UG) and Banque PSA Finance announce today the signing of a binding Framework Agreement with Banco Santander Brazil, to develop a partnership between the two groups in Brazil.
In this operation, Banco Santander Brazil will acquire shares of the Group financial companies in Brazil and this partnership will take the form of a financial company, 50/50 owned by Banque PSA Finance and Banco Santander Brazil.
This partnership is subject to the approval of competent competition and banking regulatory authorities.
Commenting on this announcement, Jean-Baptiste de Chatillon, CFO of PSA Peugeot Citroën and Chairman of Banque PSA Finance, declared: "This agreement is key to rebuild the Group's financial fundamentals in Brazil. This partnership with Banco Santander Brazil will enable the Bank to offer competitive interest rates to customers of Peugeot, Citroën and DS brands."
About PSA Peugeot Citroën
With its three world-renowned brands, Peugeot, Citroën and DS, PSA Peugeot Citroën sold 3 million vehicles worldwide in 2014. The second largest carmaker in Europe, PSA Peugeot Citroën recorded sales and revenue of €54 billion in 2014. The Group confirms its position of European leader in terms of CO2 emissions, with an average of 110.3 grams of CO2/km in 2014. PSA Peugeot Citroën has sales operations in 160 countries. It is also involved in financing activities (Banque PSA Finance) and automotive equipment (Faurecia).
For more information, please visit www.psa-peugeot-citroen.com
About Banque PSA Finance
Closely associated with the sales policies of the Peugeot, Citroën and DS brands, Banque PSA Finance (BPF) provides financing of vehicle sales by the three brands' dealers in the 23 countries where it has locations, on a standalone structure or through JV. The Cooperation signed in July 2014 with Santander Consumer Finance and related to the creation of dedicated local partnerships or commercial agreements in 11 European countries, reinforces the competitiveness of the PSA Peugeot Citroën Brands in Europe.
For more information, please visit http://www.banquepsafinance.com
Communications Division 75 avenue de la Grande-Armée 75116 Paris, France
+33 1 40 66 42 00 psa-peugeot-citroen.com @PSA_news
View source version on businesswire.com: http://www.businesswire.com/news/home/20150724005879/en/
Contacts:
PSA Peugeot Citroën
Media Relations
Jean-Baptiste Thomas, +33 1 40 66 47 59
jean-baptiste.thomas@mpsa.com
or
Investor Relations
Frédéric Brunet, +33 1 40 66 42 59
frederic.brunet@mpsa.com
