WUHAN — Dongfeng-Citroen Automobile Co., Ltd. (DCAC) jointly signs a framework agreement with China Development Bank (CDB) and Orient Assets Management Corp. on a debt-to-equity swap valued at RMB2.34 billion (US$282 million). Located in Wuhan, capital city of Central China's Hubei province, DCAC is a joint venture between DMC and France-based PSA Peugeot Citroen, with the former holding a majority stake. It is the first Sino-foreign joint-venture company to conclude a debt transformation ...
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