PSA Peugeot Citroen and Mitsubishi met this week in Tokyo to negotiate a deal that may give the French carmaker a controlling stake in the Japanese company, two people familiar with the matter said to Bloomberg. Both currently work together in sharing vehicles, but this development looks set to create an alliance in the Renault-Nissan mould.
A transaction would involve share swaps. At least four scenarios are being discussed, with one proposal of Peugeot taking 51 per cent of Mitsubishi in exchange for $1.8 billion in cash and 18 per cent of Peugeot, although that plan didn’t win support, the sources added.
PSA may be suffering from peer pressure. VW recently bought into Suzuki, while Renault has a significant holding in Nissan. Mitsubishi may not be the perfect Asia bride though. Nissan is a much bigger company than the Lancer’s maker, with a bigger global footprint. Renault and it are jointly investing in India and Russia, markets with huge growth potential. Suzuki meanwhile, is the market leader in India and has annouced plans to add small-car production in emerging markets including Pakistan, Indonesia and Vietnam.
If the deal falls through, PSA will be the second European partner for Mitsubishi. Germany-based Daimler AG bought 37 per cent of MMC in 2000 and 2001, before exiting in 2004 after refusing to pour in more aid money.
Danny Tan loves driving as much as he loves a certain herbal meat soup, and sweet engine music as much as drum beats. He has been in the auto industry since 2006, previously filling the pages of two motoring magazines before joining this website. Enjoys detailing the experience more than the technical details.
Yess!
should compare with TATA Nano..haha
When is de wedding?
dang dang dang dang (wedding song)
Lancer EVO as the new Peugeot 409
did PROTON have by any chance wanted to buy a stake of it ah?…….
since it has good partnership before……… from the SAGA right till the 4G engines in waja……
just wondering……. any1 knows?
curiosity
An Mitsu with Citroen/Peugeot handling? Or Naza assembled Evo anyone?
JULIAN_LEE said,
January 20, 2010 @ 12:35 pm
Lancer EVO as the new Peugeot 409
——————
lol smiley face for shark nose?
not easy. the nissan renault alliance was touted by some to be a miracle. how 2 completely different company managed to synergise and combine the efforts of each other.
it might be possible to replicate it but its gonna take a lot of hard work and effort. benefits may only pay off in 10 years time or so. with todays market.
maybe gonna see another carlos ghosn/.
407 Evo first…
will NAZA rebadge this model in the near future? and sell it cheap2? if yes, can buy one and re-rebadge back to mitsubishi i……………………….