A French government minister said that arose purchase shares of PSA Peugeot – Citroën . That idea came to light when the group just finished publishing a reduction of the book value of its properties (office, factory, etc.) at 4,130 million euros. The purchase of shares would be a “last resort hypothesis,” explained the newspaper Libération without citing the source of information. The same newspaper explained that the French government wants Pihilppe Varin, CEO of PSA present, is replaced by Louis Gallois, the former CEO of aeronautics consortium EADS.
Reducing the book value of its assets is twice that experienced losses in PSA market. If this measure does not have a direct impact on production, liquidity or solvency of PSA, does influence accounting at reducing revenues. This measure reflects the pessimism of the leaders of the future PSA.
Jérôme Cahuzac, French finance minister, said on RMC radio that “this company can not, we must not let it go away”. In that sense, the government is pushing for Louis Gallois, who led for 6 years EADS (the parent company of Airbus), took the reins as CEO of PSA. For now, Gallois was appointed to the board of the group last December following the loan granted by the state to PSA.
The French group’s financial situation is increasingly black. PSA bet much collaboration with General Motors, which would allow the two groups save 2,000 million euros over five years. Worse while rumors abound that the short to medium term, GM wants to put Opel Peugeot. This has only just begun.
