Fighting the same economic downfall present all over the world, PSA has its own share of trouble. Thierry Peugeot, chairman at the board for PSA, stepped into the spotlight today when he said his family is willing to give up some of its shares to make the right deal happen, Autonews reported. The family "is not at all opposed to considering a certain number of alliances or tie-ups."
What does this mean? It means that the Peugeot family is considering giving up part of its 30 percent PSA shares and 45 percent voting rights in the company in favor of someone suitable. The only condition imposed is that the family remain the major shareholder.
Any future alliance, or partnership, or whatever will be called, will have to be in line with the family's objectives "of guaranteeing the growth, profitability, and independence of the French carmaker," Peugeot said.
The statements, made one day prior to the annual shareholders meeting, comes only one day after Fiat's Sergio Marchionne hinted, once again, his company may take an interest in the French business.
Peugeot has not named any possible suitors yet, nor did he make any reference to Fiat. Yet, in light of the Eiffel plan we presented in March, this outcome would not be so far fetched. Especially because Fiat has just suffered its first defeat this year, losing the hand of Opel in favor of Canadian Magna.
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