Loss-Making PSA Announces Financing Deal With Dongfeng

Newswire

PARIS, Feb 19 (Reuters) - PSA Peugeot Citroen announced a 3 billion euro ($4.1 billion) tie-up with China's Dongfeng Motor Group on Wednesday as the French carmaker posted a further loss for 2013. Dongfeng and the French state will each pay 800 million euros for a 14 percent stake in the carmaker, Peugeot said in a statement. The companies will add new models in Asia to target 1.5 million annual sales soon after 2020. Peugeot said its full-year net loss narrowed to 2.32 billion euros ...

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