Restructuring and Recapitalisations

Philips will merge LED components, auto lighting into stand-alone business

June 30, 2014 11:54 CET
Philips will merge its LED components and automotive lighting divisions into a stand-alone subsidiary which may be spun off. The lighting division sells light sources to carmakers including VW, Audi and BMW....
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PSA shareholders back Dongfeng tie-up

April 25, 2014 17:28 CET
Shareholders of PSA/Peugeot-Citroen approved a rescue deal that makes Chinese carmaker Dongfeng and the French state core shareholders of the struggling automaker....
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LUCA CIFERRI

PSA's recovery will be boosted by the 'Tavares factor'

9:52 am U.S. ET | April 14, 2014
PSA CEO Carlos Tavares admits that his turnaround plan for the struggling automaker isn't a wonder cure: "I cannot make miracles." His honest, no-nonsense approach is one of his strengths....
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PSA to halve lineup in push for 2% margins by 2018

April 14, 2014 09:11 CET
PSA outlined plans to cut its model lineup by almost half and to make Citroen's DS unit a separate brand in a bid to restore the automotive division's profit....
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PSA's Tavares prepares to tackle pricing, low-cost threats

April 12, 2014 12:08 CET
PSA/Peugeot-Citroen's prospects may be brightening as Europe emerges from a market slump, but new CEO Carlos Tavares still faces long odds as he prepares to present his Back in the Race recovery plan on Monday....
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THE GM RECALL

Deadly GM ignition switches started with 2003 Saturn Ion

3:13 pm U.S. ET | April 11, 2014
The 2003 Saturn Ion was supposed to be a pivotal car for GM. Instead, it came to represent the compromises and corner cutting that almost destroyed GM and now find the company in a global recall of some of its most popular models. The Ion debuted two years before the Chevy Cobalt, the model most associated with the current recall of 2.6 million vehicles, and it was the first car with the defective ignition switch linked to at least 13 deaths, when engines turned off, disabling airbags....
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PSA signs Dongfeng deal; recovery hurdles remain

March 26, 2014 19:36 CET
French President Francois Hollande and his Chinese counterpart, Xi Jinping, oversaw the signing of a deal that will see Dongfeng Motor and the French government take matching 14 percent stakes in PSA/Peugeot-Citroen....
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Tavares hustles to make humbled PSA an auto champion

March 7, 2014 09:23 CET
PSA's incoming CEO, Carlos Tavares, hustled around the Geneva auto show this week in a way that didn't suggest he was taking one of the toughest jobs in the auto industry. “I'm a lucky guy,” Tavares said....
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PSA gets EU backing to sell stake to French gov't

Feb. 20, 2014 09:49 CET
PSA has initial EU backing on its agreement to sell a stake to its home government. PSA plans a 3 billion euro capital increase in which Dongfeng Motor and the French state will contribute about half the money for stakes of 14 percent apiece....
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PSA-Dongfeng deal seen as necessary, but skepticism remains

Feb. 20, 2014 12:27 CET
PSA/Peugeot-Citroen's tie-up with Dongfeng and the French government may not bring stability to the struggling automaker, observers said. PSA will change radically after “the dragon came to the rescue of the lion," a newspaper said....
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NEWS ANALYSIS

Family squabbles cost Peugeot clan control of PSA

Feb. 19, 2014 10:37 CET
Infighting played a large role in the Peugeot family's loss of control of PSA/Peugeot-Citroen, industry watchers say....
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PSA unveils Dongfeng deal with 2013 loss

Feb. 19, 2014 06:01 CET
PSA/Peugeot-Citroen announced a 3 billion euro ($4.1 billion) tie-up with China's Dongfeng Motor as the French carmaker posted a further loss for 2013. PSA warned that it may not halt losses until 2016 -- a year later than initially promised....
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Dongfeng deal buys PSA time, gives it new blood

Feb. 18, 2014 17:22 CET
PSA and Dongfeng have agreed on a 3 billion euro ($4.1 billion) capital tie-up that buys the French carmaker more time to turn around its business, brings in new management and ends two centuries of family control....
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PSA and Dongfeng sign capital tie-up deal, report says

Feb. 18, 2014 08:19 CET
PSA/Peugeot-Citroen and Dongfeng have signed a memorandum of understanding to proceed with a planned 3 billion euro ($4.1 billion) capital tie-up, a source said. The deal was signed after PSA's board approved the tie-up. An announcement is scheduled for Wednesday....
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Peugeot family approves draft Dongfeng deal, report says

Feb. 17, 2014 20:58 CET
PSA/Peugeot-Citroen's founding family gave the go-ahead on Monday for a 3 billion euro ($4.1 billion) tie-up with China's Dongfeng Motor that would draw a line under one of France's oldest industrial dynasties, sources said....
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PSA Chairman urged to scrap Dongfeng deal

Feb. 17, 2014 09:20 CET
An industry analyst has penned an open letter to PSA/Peugeot-Citroen urging the automaker to scrap its planned capital tie-up with China's Dongfeng Motor and raise capital in other ways....
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Peugeot family vote on PSA's future, report says

Feb. 16, 2014 16:40 CET
The Peugeot family, the largest shareholder in PSA/Peugeot-Citroen, will meet on Monday to decide whether to give its blessing to two deals aimed at securing the French carmaker's future, a source said....
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PSA and Dongfeng reach outline deal, report says

Feb. 12, 2014 17:55 CET
PSA/Peugeot-Citroen has reached an outline deal with Dongfeng and the French government to raise up to 4 billion euros in fresh capital and deepen cooperation with the Chinese carmaker, sources said....
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ANALYSIS

Mitsubishi, in naming Aikawa as next president, declares its independence

12:01 am U.S. ET | Feb. 9, 2014
The naming of Tetsuro Aikawa as Mitsubishi Motors' next president marks a key step toward independence for the carmaker. It may finally be getting out from under the thumbs of its largest shareholders....
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PSA's chairman seeks to protect family role in carmaker

Jan. 30, 2014 09:00 CET
PSA/Peugeot-Citroen Chairman Thierry Peugeot has written to his cousin Robert Peugeot, head of the Peugeot family holding, to criticize a planned tie-up with China's Dongfeng Motor that would dilute the family's influence, a report said....
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PSA board backs cash injection by Dongfeng, France gov't

Jan. 20, 2014 10:17 CET
PSA's board approved a deal to raise 3 billion euros ($4.1 billion) by selling stakes to Dongfeng and the French government. The deal, if completed, would represent a defining moment in the history of the automaker....
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PSA to decide on funds from Dongfeng, report says

Jan. 17, 2014 12:19 CET
PSA/Peugeot-Citroen's board was meeting Sunday to discuss a 1 billion euros ($1.4 billion) investment from Chinese automaker Dongfeng and the French state, sources said....
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SPECIAL REPORT

GM reshuffle will test Opel CEO's turnaround skills

11:00 am U.S. ET | Dec. 20, 2013
A management rejig at GM and the scaling back of its alliance with PSA have created fresh uncertainty over the company's strategy for Opel, just as the European business seemed to have secured a settled future....
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SPECIAL REPORT

GM reshuffle will test Opel CEO's turnaround skills

Dec. 20, 2013 14:33 CET
A management rejig at GM and the scaling back of its alliance with PSA have created fresh uncertainty over the U.S. carmaker's strategy for Opel, just as the European business seemed to have secured a settled future....
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Opel and labor leaders reach outline severance deal for Bochum

Nov. 18, 2013 20:13 CET
GM's Opel division says it has agreed with labor leaders on the outline of a severance deal for workers at the troubled Bochum plant, which is due to stop making cars at the end of 2014....
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