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Old 01-02-2020, 12:42 PM   #11
dmitra
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Default Baoneng takes over CAPSA

The 50% stake in Changan PSA that was put up for sale by Changan Auto has been picked up by Shenzhen Qianhai Ruizhi Investment Co., Ltd., a 100% financial subsidiary of Baoneng Automobile Co., Ltd. (宝能汽车有限公司). The cost of this acquisition is 1.63 bn RMB.

Furthermore, Groupe PSA has signed an equity transfer agreement with the above Qianhai Ruizhi for the other 50% of Changan PSA. The transaction amount has not been disclosed.

When everything is signed and sealed, Baoneng will receive the Shenzhen production base for cars and engines (200,000 units p.a.) along with R&D center, a logistics area, and some unused industrial land. Baoneng will get the production license too (its second), but I think there will be no transfer of product IP.

Groupe PSA will set up a fully-owned company for management and sales of brand DS. Both local and imported vehicles will be offered through this channel. The Shenzhen plant will continue to supply Chinese-made DS vehicles under an OEM contract.

https://finance.sina.com.cn/chanjing...z9870910.shtml
http://www.nbd.com.cn/articles/2020-01-02/1397823.html
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Old 05-21-2020, 11:05 AM   #12
dmitra
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Default Re: PSA and Changan JV

Changan Peugeot Citroen Automobile Co., Ltd. has been formally renamed to Shenzhen [City] Baoneng Automobile Co., Ltd. (深圳市宝能汽车有限公司).

http://news.bitauto.com/zonghexinwen...311684084.html

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Off-topic:

In the aftermath of a severe storm in our corner of the world, data/internet services have been greatly compromised (I am unable to even watch TV), so it might become difficult or impossible for me to post any content over the next few days until services are restored to some extent.

See:
https://en.wikipedia.org/wiki/Cyclone_Amphan
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Old 05-22-2020, 02:42 AM   #13
erik (laofan), cmvdc
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Default Re: PSA and Changan JV

DMitra, I just read in the newspapers, I am sorry to hear that people have died. Hope things are soon going back to normal, you already have the severe confinement.
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Old 05-22-2020, 10:44 AM   #14
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Default Re: PSA and Changan JV

D Mitra,
We hope you are safe and sound in the wake of the terrible storm. Unfortunately the western press' radar is in sad shape due to partisan obsession, and so we have to rely on CCF contributors, like Erik, to make us aware of such tragedies in the world.
Wishing you and yours an early recovery.
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Old 05-22-2020, 11:55 AM   #15
dmitra
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Thank you, Erik and Lawrence, for your supportive sentiments. We (individual families and as a community) are trying to manage the situation as best as we can.
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